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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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Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
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- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
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