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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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Thursday, 26 June 14
COAL DIVESTMENT CAMPAIGNS COME WITH RISKY UNINTENDED CONSEQUENCES - WCA
Last week I presented to the Expert Group on investments in coal and petroleum companies, the body set up to advise the Norwegian Government on whe ...
Wednesday, 25 June 14
INDONESIAN COAL EXPORTS ON RISE; EARNINGS FALL ON LOWER SELLING PRICES
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.84* ...
Wednesday, 25 June 14
THE PANAMAX MARKET REACHED FRESH LOWS FOR THE YEAR, SAYS INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a slight decrease, but this image of stability is merely representative of freight rat ...
Wednesday, 25 June 14
SHIPPING: MARKET INSIGHT - YANNIS OLZIERSKY
During his recent visit in London, China's Premier, Li Keqiang, announced that China's economy, the world's second largest after the US ...
Tuesday, 24 June 14
INDONESIAN COAL MINER TARGETS RP 313 BILLION IPO
COALspot.com: Indonesian coal miner PT Mitrabara Adiperdana is aiming to raise up to Rp 313 billion to Rp 368 billion (approximately $26.133 millio ...
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- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- The University of Queensland
- PTC India Limited - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
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