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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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Tuesday, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Planning Commission, India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
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