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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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Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
Friday, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
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- Barasentosa Lestari - Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- VISA Power Limited - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Interocean Group of Companies - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Australian Coal Association
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
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