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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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Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
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- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
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