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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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Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
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- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Eastern Energy - Thailand
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Planning Commission, India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
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