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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, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
Friday, 15 January 10
GOVT BRINGS IN DOMESTIC COAL MARKET OBLIGATION
The Energy and Mineral Resources Ministry has issued a ministerial decree requiring producers of coal and other minerals to allocate a proportion ...
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- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Australian Coal Association
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Planning Commission, India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
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