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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, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
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- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- White Energy Company Limited
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
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