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