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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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Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
Thursday, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
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- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
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