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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, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
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- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Planning Commission, India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
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