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