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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, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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Showing 5911 to 5915 news of total 6871 |
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- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- PTC India Limited - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
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