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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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Thursday, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
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- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Australian Coal Association
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
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