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