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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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Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- The University of Queensland
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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