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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, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- PTC India Limited - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Australian Coal Association
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Minerals Council of Australia
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