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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, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
Saturday, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
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- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- The University of Queensland
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
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