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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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Tuesday, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
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- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- PTC India Limited - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
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