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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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Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
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- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Planning Commission, India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
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