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