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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, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
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- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
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