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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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Monday, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
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