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