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