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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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- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- The University of Queensland
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
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