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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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Wednesday, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
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