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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, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
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- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
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