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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, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
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- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
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