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