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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, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week probably in anticipation of Chinese New year holidays.
BDI INDEX
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Saturday, 30 January 10
INDONESIA TO CONSTRUCT 93 POWER PLANTS IN 2ND PROJECT
The government has announced its list of 93 power plants to be built under the second 10,000-megawatt (MW) power generation scheme.
"With th ...
Saturday, 30 January 10
COAL FIRMS TO KEEP NATION IN THE BLACK
Some Indonesian coal mining companies on Friday pledged to allocate a greater share of their production this year to meet domestic market obligation ...
Friday, 29 January 10
INDIA STEAM COAL IMPORTS TO DOUBLE, BOOST SOUTH AFRICA
* SAfrica seen shipping 75 pct of its coal to Asia in 2010
* Logistics woes hamper SAfrica exports, India imports
India's steam coal imports ar ...
Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
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- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
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