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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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Saturday, 10 April 10
VESSELS OPEN N. CHINA WERE SEEN FIXED AT HIGH TEENS FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SINGAPORE
COALspot.com: The BDI indices was almost at same levels was down by only 2.6 pct.
The cape index was down by almost 13 pct, which appears to be s ...
Saturday, 10 April 10
KRISHNAPATNAM PORT GROWS BY ALMOST 100% IN ITS SECOND YEAR OF OPERATIONS
COALspot.com ( Press Release): It has been a year of setting numerous records for Krishnapatnam Port. Krishnapatnam Port is only in its second year ...
Saturday, 10 April 10
TRANS-ASIA SEEKS SEMIRARA, INDO SUPPLIERS FOR COAL POWER PLANT - MANILA STANDARD TODAY
Manila Standard Today reported that, Trans-Asia Oil & Energy Development Corp., a unit of the Phinma Group, will tap Semirara Mining Corp. ...
Thursday, 08 April 10
THE FAR EAST SHIPPING MARKET FIRMING SINCE THE LAST WEEK
Handy
Little fresh interest early this week after the holidays. The BSI saw yest ...
Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
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- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
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