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