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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, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
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- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
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