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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, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
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- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
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