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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, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
Wednesday, 20 October 10
CANADIAN CHALLENGER ACQUIRES INDONESIAN COAL PROJECT
COALspot.com (Press Release): According to Challenger Deep Resources Corp's website and press release posted on the site, Challenger Deep Res ...
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- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Planning Commission, India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- White Energy Company Limited
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
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