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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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Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
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- Minerals Council of Australia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
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