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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, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- PTC India Limited - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
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