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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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Tuesday, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
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