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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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Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
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- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
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