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