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