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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, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
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- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
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