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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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Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
Wednesday, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
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- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
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