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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, 11 April 16
BDI ROSE TO ITS HIGHEST LEVEL IN FOUR MONTHS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 08 April 16
COASTAL ENERGEN CROSSES GENERATION OF 1068 MW AND EXPORT OF 1004 MW FROM ITS 1200 MW IPP
COALspot.com: Coal & Oil (C&O) Group, an India centric Energy & Infrastructure company announced that their Coastal Energen' ...
Friday, 08 April 16
WEEKLY US COAL PRODUCTION ESTIMATES DIP 5.4% TO 11 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11 million short ...
Friday, 08 April 16
MINISTER OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO ISSUE REGULATION TO GUARANTEE THE COAL SUPPLY TO ITS 35K POWER PLANT PROJECTS
COALspot.com: In order to guarantee the supply of coal for 35,000 megawatt (mw) coal based power plants ( still in planning stage), the Minister of ...
Thursday, 07 April 16
CHINA STEEL CAPACITY CUTS FACE SOCIAL, FINANCIAL HURDLES - FITCH RATINGS
Fitch Ratings says today that the Chinese government's supply-side reform of the steel sector faces immense social and financial challenges. Th ...
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- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- White Energy Company Limited
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
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