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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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Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- PTC India Limited - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- The University of Queensland
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
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