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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, 22 December 12
FALL IN CAPE AND PANAMAX RATES DRAG BDI INDEX - VISTAAR
COALspot.com - The freight market further softened this week closing at 700 points (down by 10.71 pct). The cape index continued to fall and w ...
Saturday, 22 December 12
DELTA DUNIA MAKMUR PRODUCED 3.2 MILLION TONS OF COAL IN NOVEMBER' 12
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 28.1 million bcm* (+1.8% YoY) of Overburden in November 2012 while coal production was at 3.2 ...
Friday, 21 December 12
JORC CODE, 2012 EDITION NOW FINALIZED
COALspot.com - The JORC Committee has announced that, the completion of the review of the JORC Code of 2012 Edition.
The JORC Code, 2012 Ed ...
Thursday, 20 December 12
COAL CLOSING IN ON OIL AS WORLD'S TOP ENERGY SOURCE BY 2017
COALspot.com - Coal’s share of the global energy mix continues to rise, and by 2017 coal will come close to surpassing oil as the world’ ...
Thursday, 20 December 12
CHINA'S IRON ORE AND COAL DEMAND WILL SHAPE THE CAPESIZE DRY BULK TRADE DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the best efforts from ship owners to help alleviate the current tonnage oversupply issue in the dry bulk segment, especially in the larger v ...
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- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- The University of Queensland
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
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