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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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- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- The University of Queensland
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
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