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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, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
Thursday, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
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- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- ASAPP Information Group - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
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