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