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