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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, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
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- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
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