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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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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Planning Commission, India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- The University of Queensland
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
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