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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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Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
Saturday, 27 September 14
MORE COAL MINERS AGREE TO AMEND CONTRACTS - THE JAKARTA POST
The Energy and Mineral Resources Ministry is in a rush to beat a deadline for the conclusion of numerous memorandums of understanding (MoUs) with t ...
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative f ...
Friday, 26 September 14
U.S WEEKLY COAL PRODUCTION FELL 1.8% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.80 million short tons (mmst) of c ...
Friday, 26 September 14
ORACLE SIGNS EPC FRAMEWORK AGREEMENT WITH SEPCO FOR COAL MINE AND POWER PLANT IN PAKISTAN
COALspot.com: Oracle Coalfields PLC, the UK developer of a lignite coal mine and power plant in the south-eastern Sindh Province, Pakistan, has ann ...
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- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
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