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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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Tuesday, 06 September 11
INDONESIAS PROPOSED COAL EXPORT BAN MAY HAVE IMPACT ON THE INDIAN POWER SECTOR - DIPESH DIPU
COALspot.com - This is a special interview about Indonesian proposed coal export ban by 2014, with Mr. Dipesh Dipu, Director of Deloitte Touche Tohm ...
Tuesday, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
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- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
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