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