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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
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