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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, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
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- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Minerals Council of Australia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- MS Steel International - UAE
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- The University of Queensland
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
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