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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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Saturday, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
Thursday, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...
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- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
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