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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, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
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- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
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