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