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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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Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
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- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
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