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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, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
Thursday, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
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- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- The University of Queensland
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
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