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