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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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Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
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- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Planning Commission, India
- Heidelberg Cement - Germany
- White Energy Company Limited
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