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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, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
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- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- The University of Queensland
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
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