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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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- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
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