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