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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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Friday, 16 April 10
RBCT COAL DISPUTE RESOLVED - MININGMX
Miningmx reported that, the long-simmering spat over the coal allocation for producers who will use the expanded facilities at Richards Bay Coal Ter ...
Friday, 16 April 10
COAL INDIA SELECTS MERCHANT BANKERS TO ACQUIRE OVERSEAS ASSETS -THE HINDU
An investment of about $1.8 billion is expected to be made in these deals
The Hindu reported that, Bank of America-Merill Lynch, Royal Bank of Sc ...
Thursday, 15 April 10
MAJOR THERMAL COAL CONTRACT AT 40% HIGHER PRICE THAN LAST YEAR - BUSINESS STANDARD
Business-Standard reported that, India is expected to import nearly 60 million tonnes of thermal coal this year.
After coking coal and iron ...
Thursday, 15 April 10
RICHARDS BAY ROUNDS BACK TO INDIA SUPRAS WERE FIXED AT MID 20'S
Handy
The BSI remains in a positive momentum and the Atlantic remains unchanged from last week. Fronthaul grain is active which is keeping ballast ...
Thursday, 15 April 10
DRY BULK MARKET SLOWLY GAINING GROUND
The troubled and underperforming capesize sector of the dry bulk market has been experiencing an improved sentiment since Tuesday, a trend verified ...
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- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- MS Steel International - UAE
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
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