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