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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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Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
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- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Australian Coal Association
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- PTC India Limited - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
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