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