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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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- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Economic Council, Georgia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- PTC India Limited - India
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
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