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