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