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