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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, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
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- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- White Energy Company Limited
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
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