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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, 20 July 20
COAL INDIA LAUNCHES SPECIAL CATEGORY OF E-AUCTION FOR COAL IMPORTERS - BUSINESS STANDARD
Coal India (CIL) on Friday launched a special category of e-auction for importers of coal. This is in line with the government’s declaration ...
Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
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- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- The University of Queensland
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
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