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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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Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
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- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
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