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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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Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
Friday, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
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- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
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