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