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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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- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
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