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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, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
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