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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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Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
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- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Planning Commission, India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
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