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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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Monday, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
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Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
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- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
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