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