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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, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
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- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Australian Coal Association
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Economic Council, Georgia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
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