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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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Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
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- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
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