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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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Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
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- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- The University of Queensland
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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