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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, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
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- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
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