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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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Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
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- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
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