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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, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
Thursday, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
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- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- The University of Queensland
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
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