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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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Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
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- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Australian Coal Association
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
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