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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, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- The University of Queensland
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- GMR Energy Limited - India
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