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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, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Central Electricity Authority - India
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