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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, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
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- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
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