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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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Tuesday, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer ...
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- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
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