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