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