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