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