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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, 20 July 09
INDONESIA PRODUCES 72 MILLION MT IN FIRST HALF OF YEAR: OFFICIAL
Indonesia produced 72 million mt of coal in the first half of 2009, or 31.3% of the government’s target this year, a senior government officia ...
Sunday, 19 July 09
JINDAL S&P IN TALKS TO BUY SA COAL MINE FOR RS 350-400 CR (US$ 80 - 90 MILLION)
Economic Times reported that, Naveen Jindal-led Jindal Steel & Power (JSPL) is acquiring a thermal coal mine in South Africa, a top company exec ...
Saturday, 18 July 09
REN POWER CZ COMMISSIONS ANOTHER PHOTOVOLTAIC POWER STATION
COALspot.com (Press Release): REN Power CZ, a company in the Czech Coal Group, has put into operation another photovoltaic power station. The plant ...
Saturday, 18 July 09
THE FUTURE FOR SUPRAMAX FOR NEXT 3 YEARS TILL 2012 WOULD BE AROUND US$ 13,500 PER DAY - CAPT. REDDY
COALspot.com ( Singapore): The market moved up sharply this week , which was quite unexpected.
The BDI was up by 557 which is an increase of 18 ...
Friday, 17 July 09
CHINA COAL-SPOT PRICES EDGE LOWER, SUPPLY APLENTY
China Mining reported that, spot prices in China's top coal shipping port Qinhuangdao edged lower from a week earlier, as supply grew, offsetting t ...
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- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Australian Coal Association
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
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