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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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Wednesday, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
Tuesday, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and c ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
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- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- PTC India Limited - India
- Planning Commission, India
- The University of Queensland
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
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