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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, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
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- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
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