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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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Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
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- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- The University of Queensland
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
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