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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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Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
Saturday, 27 September 14
MORE COAL MINERS AGREE TO AMEND CONTRACTS - THE JAKARTA POST
The Energy and Mineral Resources Ministry is in a rush to beat a deadline for the conclusion of numerous memorandums of understanding (MoUs) with t ...
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative f ...
Friday, 26 September 14
U.S WEEKLY COAL PRODUCTION FELL 1.8% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.80 million short tons (mmst) of c ...
Friday, 26 September 14
ORACLE SIGNS EPC FRAMEWORK AGREEMENT WITH SEPCO FOR COAL MINE AND POWER PLANT IN PAKISTAN
COALspot.com: Oracle Coalfields PLC, the UK developer of a lignite coal mine and power plant in the south-eastern Sindh Province, Pakistan, has ann ...
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- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
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