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