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