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