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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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Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Bhatia International Limited - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- The University of Queensland
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Planning Commission, India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
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