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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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Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
Saturday, 13 November 10
INDONESIA SHIPPED 8.73 % MORE COAL IN OCTOBER THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23.55 mln mt of coal in October 2010, which is 8.73 percent more compared to Septe ...
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- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
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