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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, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
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- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
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