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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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Thursday, 21 February 13
SPRING COAL PROCUREMENT 2013 IS ABOUT TO TAKE PLACE
In 2012, “Steady Growth” had set the keynote for China’s economic development. Guided by the principle of progressing steadily, do ...
Wednesday, 20 February 13
BAKRIE GROUP LOOKS TO HAVE A CLEAR UPPER HAND - LUCKY ARIESANDI, CFA
The Bakrie-Rothschild saga is entering its final stage, with Bumi Plc (BUMI LN)’s holders to convene on 21 Feb at 11am GMT to vote on Nat Roth ...
Tuesday, 19 February 13
NEWCASTLE PORT SHIPPED 38.65 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 1,820,559 MT of thermal and coking coal for week ended 0700 hours 18 February 2013, Newc ...
Monday, 18 February 13
78.75 MILLION TONS OF COAL RESERVES ARE NEWLY PROVEN IN WUGANG HUNAN PROVINCE
COALspot.com - Recently, Wugang City, known as the CHINA hundred key coal producing cities, achieved new breakthroughs in coal exploration: deep coa ...
Sunday, 17 February 13
STEEL DEMAND WILL HELP TO PUSH UP FREIGHT RATES - VISTAAR
COALspot.com - This freight market has been fairly steady week ended 15 February 2013.
The BDI was slightly up by 0.67 pct closing at 753 points ...
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- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- GMR Energy Limited - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
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