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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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Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
Friday, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
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- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
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