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