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