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