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