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