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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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Saturday, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
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- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
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