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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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Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
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