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