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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, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
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- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
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