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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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Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
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- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
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