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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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Saturday, 27 June 09
HEAVY CONGESTION AT AUSTRALIAN PORTS REACHING ALL TIME HIGH TO 120 SHIPS IN EAST COAST AUSTRALIA - VISTAAR SHIPPING
COALspot.com (Singapore): The market this week was a bit soft and the BDI was down by almost 10 pct and closed at 3,703 points.
The drop in BDI i ...
Friday, 26 June 09
INDONESIA INVESTORS EYE BHP BILLITON COAL PROJECT
About four Indonesian investors are interested in taking over a coal project owned by BHP Billiton Ltd, a senior government mining official said.
...
Friday, 26 June 09
SOUTH AFRICA'S CONSULTING GROUP OPENS OFFICES IN CHINA, INDONESIA
Consulting engineering company SRK Consulting has opened new offices in Asia to cope with the growing demand for its services in the region.
The ...
Friday, 26 June 09
RUSSIA MECHEL TO DELIVER 2 MLN T COKING COAL TO ASIA
Russian steel and coal producer Mechel said on Thursday it had signed contracts to deliver about 2 million tonnes of coking coal concentrate to unna ...
Friday, 26 June 09
SA COAL EXPORTS UNLIKELY TO BREACH 65MT THIS YEAR
Coal volumes railed to South Africa’s Richards Bay Coal Terminal (RBCT) during the rain-affected first quarter of 2009 had fallen well short o ...
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- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- White Energy Company Limited
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
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