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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, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
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- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
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