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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
 COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 million tons, Indonesian coal industry sources said. 56.30 percent up year-to year.
China's Indonesian coal imports have jumped up drastically in May by 2.105 MMt compared to its April imports. Chinese coal imports from Indonesia in May was higher than India's imports from Indonesia. India has imported 6.368 million tons in May where’s China has imported about 8.21 MMt which was 1.841 million MT higher.
India has lost its largest Indonesian coal importer status to China first time in the last five months. India was the largest Indonesian coal importer since January 2011 followed by China and other Asian countries. China is expected to import more coal in this month and coming months to increase energy supplies to prevent a worsening of its summer power shortage in seven years.
According to analyst, China faces a power shortfall, and that may extend to 40GW this northern summer, surpassing its 2004 power shortfall. China’s benchmark power-station coal prices rose to the highest since October 2008 as summer electricity demand increased in the world’s fastest-growing major economy, as quoted by Bloomberg its report early this week.
According to Indian coal minister, Indian coal imports may be at 250 million tons per annum by 2016. Coal imports is unavoidable option for Indian utilities due to non availability of economically viable coal from domestic mines. However, according to Indian UMPPs, due to Indonesian government regulation that forces all coal producers must sell coal at government declared monthly prices, would cost them at least US$ 30 per ton higher than they previously budgeted.
"Implementation of this proposed new rule by the Indonesian government ( I.e., the law mandates all coal producers to sell coal at government declared prices) will adversely impact all existing and future imported coal-based power plants in India, including UMPPs," Ashok Khurana, the Director General of the Association of Power Producers, said as reported by an Indian paper.
“When Indian companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipesh Dipu, director, at Deloitte, mydigitalfc reported.
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Indonesia has introduced bench mark pricing mechanism for its coal since February 2010, and it has implemented for the domestic supplies as well export market. The pricing was done on very transparent way using four internationally acceptable coal indices to generate monthly Indonesian coal reference prices for about 62 types of coal including 8 types of bench mark qualities.
The regulation also requires miners to report sales volumes, prices, and buyers every month to the government, allowing it to ensure that the rules are being followed. Violations can lead to revocation of mining permits. The price benchmark aims to prevent firms selling coal to affiliates at low prices to avoid taxes that hurts Indonesia's efforts to collect revenues from its massive commodity exports.
Ministry of Energy and Mineral Resources of Indonesia has set the June 2011 Indonesian Coal Reference Price for thermal coal at US$ 119.03 per ton per ton, which was 1.20 percent higher than May 2011 price of US$ US$ 117.61. Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur (arb) 0.8%, Ash Content (arb) 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 30 June 2011.
Indonesian bituminous coal of 5,500 kcal/kg NAR was offered at between $ 108 - 110 a ton, FOB vessel basis this week, slightly up from last week price, traders said.
According to Indian power industry sources opined that Indian UMPPs ( ultra-mega power project) suddenly caught in between as the concept of UMPP was implemented 4 to 5 years back. The large scale industrial houses in India have bided and secured UMPP licenses based on the open market prices /long term coal contracts from Indonesian producers (I.e., pre regulated Indonesian market). Now that Indonesian coal reference price mechanism is in place all the UMPP's are seeking Indian government’s assistance in revising the Power Tariff of UMPP.
Now, the bankers who have funded the projects are bit worried about the rising Indonesian coal costs versus the power sales price which was pegged at pre-regulation prices, Indian banking industry sources said. Now, we need to see whether Indian Government allows the UMPPs to revise the power sale prices based on Indonesian coal reference price mechanism.
As such India cement and steel industries were used to buy coal from South Africa and Australia on index base pricing mechanism since last four to five years. in view of the attractive profit margin levels, entire Indonesian coal producers migrated to Index based pricing for coal contracts . “Where's still many of the Indian utilities and private consumers are still procuring the coal on firm delivered basis. This concept is creating lot of confusion in the Indian trade circles” an Indian trader commented.
77.12 percent of total coal exports in May goes to China, India, South Korea, Japan and Taiwan respectively.
The coal export information within this article is provided by coalspot.com on an "as is" and "as available” basis. All details about, given in good faith, without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.
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Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
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- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- PTC India Limited - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
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