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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, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
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