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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, 27 June 09
HEAVY CONGESTION AT AUSTRALIAN PORTS REACHING ALL TIME HIGH TO 120 SHIPS IN EAST COAST AUSTRALIA - VISTAAR SHIPPING
COALspot.com (Singapore): The market this week was a bit soft and the BDI was down by almost 10 pct and closed at 3,703 points.
The drop in BDI i ...
Friday, 26 June 09
INDONESIA INVESTORS EYE BHP BILLITON COAL PROJECT
About four Indonesian investors are interested in taking over a coal project owned by BHP Billiton Ltd, a senior government mining official said.
...
Friday, 26 June 09
SOUTH AFRICA'S CONSULTING GROUP OPENS OFFICES IN CHINA, INDONESIA
Consulting engineering company SRK Consulting has opened new offices in Asia to cope with the growing demand for its services in the region.
The ...
Friday, 26 June 09
RUSSIA MECHEL TO DELIVER 2 MLN T COKING COAL TO ASIA
Russian steel and coal producer Mechel said on Thursday it had signed contracts to deliver about 2 million tonnes of coking coal concentrate to unna ...
Friday, 26 June 09
SA COAL EXPORTS UNLIKELY TO BREACH 65MT THIS YEAR
Coal volumes railed to South Africa’s Richards Bay Coal Terminal (RBCT) during the rain-affected first quarter of 2009 had fallen well short o ...
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- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- The University of Queensland
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
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