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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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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
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