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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, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
Wednesday, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
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- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
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