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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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Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
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- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
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