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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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Friday, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
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