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