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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, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
Sunday, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
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- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
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