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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, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
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- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Deloitte Consulting - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
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