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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, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
ETA Star India Projects Pvt, which is carrying out coal prospecting and surveying work in the Moatize coal region, in Tete province, will present it ...
Thursday, 12 August 10
SUPRAS WERE FIXED IN THE MID/HIGH TEENS FOR INDO-INDIA TRIPS - FEARNBULK
Handy
Activity is gradually picking up in the Atlantic with more enquiries seen for short period tonnage for the end of August. With the grain sea ...
Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
BRAZILIAN mining giant Vale is not content with being the world's largest iron ore miner. The miner is banking on ambitious growth plans to see it ...
Wednesday, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
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- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Posco Energy - South Korea
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