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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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Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
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