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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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- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
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