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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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Sunday, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
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- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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