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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, 04 April 16
INDONESIA CS57 COAL INDEX SLIDES SLIGHTLY WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.07 percent week over week to averaging $38.88 per ton on this past Friday, ac ...
Monday, 04 April 16
CAPE INDEX JUMPED 70% WEEK ON WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 01 April 16
ASSESSING THE DRY BULK MARKET AT ROCK BOTTOM - CLARKSONS
While the opening months of the year are typically a weak period for the dry bulk market, the downturn so far this year has been severe. Earnings h ...
Friday, 01 April 16
NINE AM - TIME TO GET AN INDONESIAN LANGUAGE VERSION OF YOUR CHARTERPARTIES - CLYDE & CO
KNOWLEDGE TO ELEVATE
For several years, Indonesian law (Article 31, Law Number 24 of 2009) has required that memoranda of understanding (" ...
Friday, 01 April 16
U.S. COAL PRODUCTION UP SLIGHTLY WEEK OVER WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.6 million shor ...
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- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Planning Commission, India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
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