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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, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
Tuesday, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
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- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- The University of Queensland
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
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