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