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