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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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Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
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