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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, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
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- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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