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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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Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
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- Petron Corporation, Philippines
- The University of Queensland
- ASAPP Information Group - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Minerals Council of Australia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
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