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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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Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Planning Commission, India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- White Energy Company Limited
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
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