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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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Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
Thursday, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
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- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- White Energy Company Limited
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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