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