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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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Thursday, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
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