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