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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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Tuesday, 07 July 09
ECONOMIC SURVEY 2008-09 OPEN UP COAL TO FUEL POWER PLANTS
TOI reported that the coal ministry's efforts at opening doors for full private entry through open bidding in coal mining got a boost, with the Eco ...
Tuesday, 07 July 09
POWER - STATION COAL MAY RISE ON CHINA DEMAND, SUPPLIES, UBS SAYS
Power-station coal prices in Asia may increase in 2010 because of higher demand from China, the second-largest energy-consuming nation, and supply c ...
Saturday, 04 July 09
FREIGHT FUTURE FOR 3 YEARS UNTIL 2012 WAS FAIRLY SOFT AROUND PANAMAX / US$ 16,000, SUPRAMAX / US$ 13,000 PER DAY
COALspot.com (Singapore): According to Vistaar shipping, an experinced ship operator in Singapore, the freight market was soft with bit nervousness ...
Saturday, 04 July 09
CHINA BUYS 17% OF MINER TECK RESOURCES FOR $1.5 BILLION
* To sell 17.2 percent stake to China Investment Corp
* To raise proceeds of C$1.74 bln
* Shares rise 3.2 percent (Adds details. In U.S. dol ...
Saturday, 04 July 09
MINING CONTRACT SOUGHT FOR COAL AREA IN MASBATE
Because of its coal deposits, a town in Masbate is one of the sites in the country being sought out for exploration and development by mining compan ...
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- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
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