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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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Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
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Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
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- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- The University of Queensland
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
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