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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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Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
Tuesday, 02 August 11
INDONESIA BECOMES SECOND LARGEST COKING COAL EXPORTER
COALspot.com - Indonesia, the largest thermal coal exporter in the world now becomes second biggest coking coal exporter to Japan. Indonesian’ ...
Tuesday, 02 August 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK TO PRESENT LATEST TRENDS
Press Release - Global commodities prices have been staying high since the beginning of 2011, resulting in the “TENSION” in various coun ...
Tuesday, 02 August 11
REALM RESOURCES TO ACQUIRE A 75% INTEREST IN THE KATINGAN RIA COAL PROJECT
COALspot.com - Scoping study at the Katingan Ria Coal Project, Central Kalimantan demonstrates positive technical and financial potential for the pr ...
Tuesday, 02 August 11
COAL INDIA TO INVEST IN GOLDEN ENERGY MINES
COALspot.com - Golden Energy Mines, part of PT Dian Swastatika Sentosa Tbk’s, is still negotiating with several strategic investors to o ...
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- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Australian Coal Association
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
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