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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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Tuesday, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- White Energy Company Limited
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
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