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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, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
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- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- GMR Energy Limited - India
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