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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, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
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- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Planning Commission, India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- MS Steel International - UAE
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
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