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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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Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Parliament of New Zealand
- Videocon Industries ltd - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- VISA Power Limited - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
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