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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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Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
Friday, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
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- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Planning Commission, India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
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