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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, 11 August 12
INDONESIAN COAL REFERENCE PRICE HAS LOST 27.78 PERCENT YOY
COALspot.com - Indonesian HBA fell again in August.
The monthly coal reference price for coal sales this month fell 3.32 percent. HBA fell ...
Saturday, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
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- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Australian Coal Association
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- PTC India Limited - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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