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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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- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
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