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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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Thursday, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
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