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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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Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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