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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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Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
Thursday, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
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- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- PTC India Limited - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
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