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