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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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Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
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- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
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