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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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- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
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