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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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Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
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- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- The University of Queensland
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Planning Commission, India
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