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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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Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
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- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
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