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