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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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Saturday, 08 May 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND PANAMAX / $ 21500 & SUPRAMAX / $ 18500 PER DAY - VISTAAR SHIPPING
COALspot.com: The BDI continued to go up and was up by 7.57 pct even though the stock markets was severely affected with worries on Greek debt crisi ...
Saturday, 08 May 10
MAHAGENCO TO IMPORT 3.35 MILLION TON OF COAL
COALspot.com: Indian utility Maharashtra State Power Generation Co. Ltd. is in market for 3.35 million tones of imported coal. The purchase of coal ...
Saturday, 08 May 10
NAPOCOR BUYS 122,000 TONS COAL - ABC CBN NEWS
ABC - CBN News reported that, State-run National Power Corp. (Napocor) said on Thursday it awarded 2 contracts for the supply of a total 122,000 ton ...
Saturday, 08 May 10
RICHARDS BAY COAL SHIPMENTS FALL TO AN 11-MONTH LOW - BLOOMBERG
Bloomberg reported that, Coal shipments from Richards Bay Coal Terminal, Africa’s biggest export facility for the fuel, fell to an 11-month lo ...
Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
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- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- The University of Queensland
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
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