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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, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
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- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- MS Steel International - UAE
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Eastern Coal Council - USA
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
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