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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, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
Friday, 31 October 14
BUKIT ASAM'S NET PROFIT ROSE 27.42% FOR THE PERIOD JANUARY - SEPTEMBER 2014
COALspot.com: Publicly listed coal miner Bukit Asam reported solid profits in the first nine months of 2014 year.
Coal miner Bukit Asam manage ...
Friday, 31 October 14
U.S PRODUCED AROUND 19.3 MMST OF COAL IN A WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 30 October 14
COAL & GRAINS SUPPORT PANAMAX AND IRON ORE SUPPORTS CAPES
Handy
The Atlantic market has been flat this week. Rates are up about US$ 200 from last week on the TA´s, but the volumes are about the sam ...
Thursday, 30 October 14
DOES A LOU ARBITRATION AGREEMENT FOR THE UNDERLYING CARGO CLAIM COMPLETELY REPLACE THE BILL OF LADING ARBITRATION CLAUSE? - INCE &CO
KNOWLEDGE TO ELEVATE
In the context of cargo claims brought under four bills of lading, the Commercial Court has recently considered whether a ...
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- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
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