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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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Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
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- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
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