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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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Wednesday, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
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- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Australian Coal Association
- Coalindo Energy - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
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