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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, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
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- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
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