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