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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, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
Thursday, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
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- Heidelberg Cement - Germany
- PTC India Limited - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
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