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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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Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
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- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Australian Coal Association
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
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