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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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Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
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- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- The University of Queensland
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
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