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