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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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Tuesday, 13 April 10
CHINA COAL SEEING 'STRONG DEMAND,' PUDA COAL CFO SAYS - BUSINESS WEEK
Business Week reported that, China coal prices will increase this year as the nation’s industry expands and a drought in the southwest region ...
Tuesday, 13 April 10
PEABODY, COAL INDIA CONFIRM 'EARLY STAGE' TALKS - MINING WEEKLY
Mining Weekly reported that, US coal-miner Peabody Energy is holding discussions with Coal India, the company said on Monday, after an Australian ne ...
Tuesday, 13 April 10
ANGLO PREDICTS HIGH COAL PRICES, STEADY SUPPLY
Busrep / Reuters reported that, Coal prices were expected to remain strong this year, while exports would match last year's despite rail cons ...
Tuesday, 13 April 10
THE PANAMAX MARKET CONTINUED TO STRENGTHEN - BRS DRY BULK
Panamax rates continue to beat the market, and the Panamax 4TC is now trading at a 25% premium to the Cape 4TC — the biggest margin since the ...
Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA
Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter a ...
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- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- The University of Queensland
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
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