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