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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, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Planning Commission, India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Deloitte Consulting - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
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