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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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Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
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- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
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