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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, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week probably in anticipation of Chinese New year holidays.
BDI INDEX
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Saturday, 30 January 10
INDONESIA TO CONSTRUCT 93 POWER PLANTS IN 2ND PROJECT
The government has announced its list of 93 power plants to be built under the second 10,000-megawatt (MW) power generation scheme.
"With th ...
Saturday, 30 January 10
COAL FIRMS TO KEEP NATION IN THE BLACK
Some Indonesian coal mining companies on Friday pledged to allocate a greater share of their production this year to meet domestic market obligation ...
Friday, 29 January 10
INDIA STEAM COAL IMPORTS TO DOUBLE, BOOST SOUTH AFRICA
* SAfrica seen shipping 75 pct of its coal to Asia in 2010
* Logistics woes hamper SAfrica exports, India imports
India's steam coal imports ar ...
Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
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- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
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