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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, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
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- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Australian Coal Association
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
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