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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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Sunday, 05 April 15
FREIGHT RATES UNDER PRESSURE WEEK OVER WEEK
COALspot.com: The Indices fell on all segments and the market seemed to soften this week.
The BDI was almost lost 1.34% week over week and clo ...
Saturday, 04 April 15
BORYEONG POWER OF KOMIPO TO BUY TOTALED 695K MT OF HIGH AND LCV COAL
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 500000 Metr ...
Friday, 03 April 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.3 million short ...
Friday, 03 April 15
TOBA BARA'S PANDU SJAHRIR ELECTED AS NEW CHAIRMAN OF THE INDONESIAN COAL MINING ASSOCIATION
COALspot.com: Pandu Sjahrir, the Vice President Director & CFO of the Jakarta-listed PT Toba Bara Sejahtra — a subsidiary of PT Toba Seja ...
Thursday, 02 April 15
GOVERNMENT MUST WORK WITH MINING, NOT AGAINST IT - PANDU SJAHRIR
The Coal Face: The coal price has hit its lowest point in recent memory
My father used to say to me that his children are his biggest inv ...
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- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- MS Steel International - UAE
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
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