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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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Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
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- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- The University of Queensland
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
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