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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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Thursday, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- MS Steel International - UAE
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
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