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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, 11 April 16
BDI ROSE TO ITS HIGHEST LEVEL IN FOUR MONTHS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 08 April 16
COASTAL ENERGEN CROSSES GENERATION OF 1068 MW AND EXPORT OF 1004 MW FROM ITS 1200 MW IPP
COALspot.com: Coal & Oil (C&O) Group, an India centric Energy & Infrastructure company announced that their Coastal Energen' ...
Friday, 08 April 16
WEEKLY US COAL PRODUCTION ESTIMATES DIP 5.4% TO 11 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11 million short ...
Friday, 08 April 16
MINISTER OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO ISSUE REGULATION TO GUARANTEE THE COAL SUPPLY TO ITS 35K POWER PLANT PROJECTS
COALspot.com: In order to guarantee the supply of coal for 35,000 megawatt (mw) coal based power plants ( still in planning stage), the Minister of ...
Thursday, 07 April 16
CHINA STEEL CAPACITY CUTS FACE SOCIAL, FINANCIAL HURDLES - FITCH RATINGS
Fitch Ratings says today that the Chinese government's supply-side reform of the steel sector faces immense social and financial challenges. Th ...
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- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Planning Commission, India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Australian Coal Association
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
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