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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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Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
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- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- White Energy Company Limited
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
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