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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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Wednesday, 14 December 16
INTERNATIONAL TRIBUNAL DISMISSED CHURCHILL MINING'S DAMAGES CLAIM AGAINST REPUBLIC OF INDONESIA
The Directors of Churchill Mining plc advise that, the ICSID Tribunal (“Tribunal”) granted Indonesia’s application to dismiss the ...
Wednesday, 14 December 16
20/20 VISION! - JOHN N. COTZIAS
2020; A year that could be changing shipping. In early November, the International Maritime Organization (IMO) announced that it would set a 0.5% s ...
Tuesday, 13 December 16
THE FREIGHT MARKET MAY WELL BE SHOWING SIGNS OF HEADING FOR ITS DOWNWARD CORRECTIVE PHASE - ALLIED
2016 has been a tough market for dry bulkers and through these difficult earnings, we have seen some of the lowest prices being noted historically ...
Tuesday, 13 December 16
COAL DEMAND GROWTH TO STALL AS APPETITE WANES, ACCORDING TO IEA
Growth in global coal demand will stall over the next five years as the appetite for the fuel wanes and other energy sources gain ground, according ...
Monday, 12 December 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.3 MMST, UP 7.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million short ton ...
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- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- The University of Queensland
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Planning Commission, India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
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