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