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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, 17 August 09
CHINESE COAL PURCHASE COULD START A TREND
ABC Rural reported that, The takeover of a major Australian coal mining company by Chinese-owned Yanzhou has raised fears coal markets could be domi ...
Saturday, 15 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The dry bulk market continued to be soft in the beginning of the week, however towards to end of the week the BDI recovere ...
Friday, 14 August 09
ASIA GREEN TO SELL MORE COAL
I Stock Analyst reported that, Asia Green Energy Plc (AGE) aims to increase its coal sales by 20 percent to 1 million tonnes this year, given the gl ...
Friday, 14 August 09
INDONESIA COAL-PRICES FALL TO $74, INDIA EYES SEPT CARGOES
Reuters reported that, Prices of power-station coal from Australia fell to around $74 a tonne as demand eased, while Indian buyers started to look f ...
Friday, 14 August 09
GUACOLDA STARTS THIRD COAL-FIRED UNIT
Macorship reported that, Chile’s Empresa Electrica Guacolda said that the third unit at its Guacolda coal-fired power plant began supplying po ...
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- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Posco Energy - South Korea
- Interocean Group of Companies - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
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