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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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- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- The University of Queensland
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
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