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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, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets s ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
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- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
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