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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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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
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- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- White Energy Company Limited
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
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