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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, 19 November 12
GOVT PREPARES TO FACE ANOTHER SUIT ON MINING LAW - THE JAKARTA POST
The government is gearing up to face a complaint on the 2009 Mining Law prepared by the same organization that previously brought down upstream oil ...
Monday, 19 November 12
IHS MCCLOSKEY ASIA PACIFIC COAL OUTLOOK CONFERENCE 2012
With the current global oversupply of thermal coal showing no signs of abating and spot prices falling to a two-year low, concerns are growing that ...
Sunday, 18 November 12
INDONESIAN SUB BITUMINOUS COAL SWAPS FOR JANUARY 2013 DELIVERY GAINS 1.29 PERCENT WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 1.29 percent WoW and 0.25 percent DoD on Friday, 16 Novembe ...
Saturday, 17 November 12
THE SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA ARE EXPECTED TO BE UP NEXT WEEK - VISTAAR
COALspot.com - This week market sentiments ended positive with all the segments ending higher except for handy size which was almost at same levels ...
Saturday, 17 November 12
RECORD DEMOLITION ACTIVITY SEEKS TO CURB TONNAGE OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
This year will prove to be another record-breaker in terms of scrapping of older vessels across all shipping segments, as the equally feverish pace ...
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- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
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- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
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- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
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- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
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- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
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- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- The University of Queensland
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- GMR Energy Limited - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
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- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
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