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