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