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