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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, 04 March 10
THE INDIAN MARKET WAS STILL STRONG - FEARNRESEARCH
HANDY
Activity has gradually improved in the Atlantic throughout the week. All areas&n ...
Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand ...
Thursday, 04 March 10
THREE NEW GLOBAL PRICES INDEXES FOR COKING COAL
Commodity Online reported that, On February 26, Energy Publishing Co. broke new ground in the coal-marketing industry when it began publishing three ...
Tuesday, 02 March 10
INDIA WAS AGAIN THE WINNER IN THE EAST, WITH SUPRAMAXES FIXING CLOSE TO US$40,000/DAY FROM THE WEST COAST
There was little movement in the BDI this week but behind the scenes, the Supramax and Handy size segments posted significant gains, correcting the ...
Tuesday, 02 March 10
INDONESIA'S PROTECTED FORESTS NOW OPEN TO DEVELOPMENT
The Jakarta Globe reported that, President Susilo Bambang Yudhoyono has signed a decree to allow mining, power plants and other projects deemed stra ...
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- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- The University of Queensland
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
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