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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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Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
Thursday, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
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- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- The University of Queensland
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
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