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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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Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
Tuesday, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
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- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
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