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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, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
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