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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, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
Thursday, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
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- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Eastern Coal Council - USA
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
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