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