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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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Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
Saturday, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
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- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
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