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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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- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
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