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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, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
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- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Deloitte Consulting - India
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