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