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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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Monday, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
Sunday, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Friday, 25 January 13
SMALL ROOM FOR OPTIMISM FOR THE PROSPECTS OF THE DRY BULK MARKET AS NET FLEET GROWTH IS SLOWING DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market didn't manage to post a rebound during the past year, quite the opposite, as a fast fleet growth and slow ...
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- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
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