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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, 12 January 10
COAL PRICE FORECAST RAISED AT ANZ ON STRONGER CHINESE DEMAND
Power-station coal price forecasts for this year were raised 19 percent by Australia & New Zealand Banking Group Ltd. on rising demand from Chin ...
Tuesday, 12 January 10
BUMIS SALE CONTRACT ONLY REACHED 35 PERCENT
PT Bumi Resources has only completed 35 percent if its coal sale contract this year. “More than 65 percent of our sale volume did not have a c ...
Monday, 11 January 10
THE MARKET IS LIKELY TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market for the first week of the year was quite active and the market especially in the Panamax and Supramax s ...
Monday, 11 January 10
CHINAS COAL EXPORT MAY DECLINE 50% IN 2009
Preliminary data released by China's General Administration of Customs (GAC) on Wednesday showed that China's coal export reached 2.05 million ton ...
Saturday, 09 January 10
THE FAR EAST MARKET STARTED TO STABILIZE - FEARNLEYS
Handy
The FEAST market started to stabilize after the quite holidays and we saw growing activity fed by Chinese coal and iron ore imports and Indi ...
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- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
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