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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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Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
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- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Planning Commission, India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- PTC India Limited - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
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