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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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Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
Wednesday, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...
Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...
Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the ...
Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...
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- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
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