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