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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, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
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- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Planning Commission, India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
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