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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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Thursday, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
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- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Planning Commission, India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Australian Coal Association
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
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