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