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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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- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
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