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