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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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Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
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- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
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