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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, 13 January 14
INDONESIAN ORE BAN TO HAVE LIMITED IMPACT ON CHINESE ALUMINIUM PRODUCERS, FITCH RATINGS SAYS
COALspot.com: Fitch Ratings says today that Indonesia's ban on exports of unprocessed mineral ore will have limited impact on Chinese aluminium pro ...
Sunday, 12 January 14
THE FREIGHT MARKET CONTINUE TO REMAIN WEAK NEXT WEEK - SOLYM CARRIERS
Wish You A very Happy New Year
COALspot.com: The market has dropped quite a lot as expected due to holidays and probably also the effect of ban o ...
Friday, 10 January 14
DECISION ON ORE EXPORT BAN WILL BE MADE TOMORROW: INDUSTRY MINISTER, JG SAYS
Industry Minister M.S. Hidayat dismissed reports on Thursday that the government had made a decision on the matter. “We will only make a decis ...
Friday, 10 January 14
US COAL PRODUCTION UP 5.8% ON WEEK IN WEEK ENDED SATURDAY 4 JANUARY
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Thursday, 09 January 14
THE INDONESIAN GOVERNMENT EASES ORE EXPORT BAN
COALspot.com: The Indonesian government has finally agreed to ease the ore-export ban just a few days before the Sunday deadline amid protests from ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Planning Commission, India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- The University of Queensland
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
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