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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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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Planning Commission, India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Australian Coal Association
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
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