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