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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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Friday, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- Parliament of New Zealand
- Interocean Group of Companies - India
- Australian Coal Association
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
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