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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, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
Saturday, 12 January 13
SUB-BIT FOB INDONESIA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has lost 0.32 percent WoW but CFR South China coal ship ...
Saturday, 12 January 13
HIGHER COAL PRICES: SEASONAL EFFECT
COALspot.com : Bahana Securities, one of the leading securities in Indonesia, said in its latest coal outlook that, on US and China&rsquo ...
Friday, 11 January 13
HBA HAS JUMPED BY US$ 5.80 PMT IN JANUARY 2013
COALspot.com - The Indonesian government has declared bench mark price for coal higher than December price. The monthly coal reference price f ...
Thursday, 10 January 13
PANAMAX : SOME GLIMMERS OF HOPE MID WEEK - FEARNLEYS
According to Fearnley’s weekly report, the Atlantic handy market is stable with rates around USD 11k for Cont-Feast and USD 17k bss USG/Feast. ...
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- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- The University of Queensland
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
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