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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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Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
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- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- The University of Queensland
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
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