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