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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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Saturday, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
Thursday, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...
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- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- VISA Power Limited - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Parliament of New Zealand
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