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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, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
"THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow ...
Saturday, 31 July 10
TABONEO ANCHORAGE TO LOAD 1.5 MLN TON OR MORE COAL IN H1 AUGUST
COALspot.com: Eighty five ocean going vessels and barges have been nominated by coal buyers to their respective suppliers in Indonesia to load about ...
Saturday, 31 July 10
SEEMS THE FREIGHT MARKET WOULD BE FAIRLY STABLE FOR H2 2010 - VISTAAR
COALspot.com: The BDI continued moving up since 16th July and rise by 14 pct almost touching 2000 points.
The BDI was up by 7.72 pct last week wh ...
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) ga ...
Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
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- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- The University of Queensland
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
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