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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, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
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- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
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