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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, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
Thursday, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
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- Marubeni Corporation - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
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