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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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Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
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- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
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