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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, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
Tuesday, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
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- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
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