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