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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, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
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- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Planning Commission, India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
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