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