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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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- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Australian Coal Association
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- The University of Queensland
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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