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