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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, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
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- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- PTC India Limited - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
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