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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, 07 July 09
ECONOMIC SURVEY 2008-09 OPEN UP COAL TO FUEL POWER PLANTS
TOI reported that the coal ministry's efforts at opening doors for full private entry through open bidding in coal mining got a boost, with the Eco ...
Tuesday, 07 July 09
POWER - STATION COAL MAY RISE ON CHINA DEMAND, SUPPLIES, UBS SAYS
Power-station coal prices in Asia may increase in 2010 because of higher demand from China, the second-largest energy-consuming nation, and supply c ...
Saturday, 04 July 09
FREIGHT FUTURE FOR 3 YEARS UNTIL 2012 WAS FAIRLY SOFT AROUND PANAMAX / US$ 16,000, SUPRAMAX / US$ 13,000 PER DAY
COALspot.com (Singapore): According to Vistaar shipping, an experinced ship operator in Singapore, the freight market was soft with bit nervousness ...
Saturday, 04 July 09
CHINA BUYS 17% OF MINER TECK RESOURCES FOR $1.5 BILLION
* To sell 17.2 percent stake to China Investment Corp
* To raise proceeds of C$1.74 bln
* Shares rise 3.2 percent (Adds details. In U.S. dol ...
Saturday, 04 July 09
MINING CONTRACT SOUGHT FOR COAL AREA IN MASBATE
Because of its coal deposits, a town in Masbate is one of the sites in the country being sought out for exploration and development by mining compan ...
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- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- The University of Queensland
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
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