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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, 23 July 11
FAR EAST /SE ASIA ROUTE GAINED US$ 3000 HIGHER THAN LAST WEEK - VISTAAR
COALspot.com - The BDI further softened to by 2.22 pct and closed at 1323 points. The Cape and Panamax index also softened and closed at 1841 points ...
Saturday, 23 July 11
PANAMAX MARKET FACED A LIMITED ACTIVITY IN ALL BASINS
Handy
Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Far east remain healthy. More cargoes ex ...
Friday, 22 July 11
MARUBENI ACQUIRING 42.86% SHARE OF YTL JAWA POWER HOLDINGS
COALspot.com - Japan’s Marubeni Corporation acquisition 42.86% stake in YTL Jawa Power Holdings BV, which owns a 35% equity interest in Indone ...
Thursday, 21 July 11
INDIA IMPORTS 36.033 MILLION TONS OF INDONESIAN COAL TILL JUNE
COALspot.com - Indonesia shipped 28.27 Million tons of coal in June 2011, a 2.3 percent lesser than May export of about 28.962 million tons, I ...
Thursday, 21 July 11
COAL PRICES ARE AT US$ 120 A TONNE
COALspot.com - Indonesian coal production in 2011 is expected to reach 360 million tons or 5.8 percent higher than government's forecasts. The incr ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
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