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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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Thursday, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
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