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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, 13 June 09
CLEARLY THE DRIVER FOR DRY BULK MARKET SEEMS TO BE IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com (Singapore): The market saw mixed results last week. The beginning of the week saw the indices dropping including the futures , however t ...
Friday, 12 June 09
SOUTH SUMATERA SPEEDS UP INTERNATIONAL HARBOR CONSTRUCTION - TEMPO INTERACTIVE
The South Sumatera Government will speed up construction of the international harbor Tanjung Api-Api. The harbor is a strategic entry point for comm ...
Friday, 12 June 09
CHINA SHENHUA NOT EYEING NEW FOREIGN COAL MINES - MEDIA
China Shenhua Energy Co Ltd , the top Chinese coal miner, will not consider buying any major overseas mines before it starts operating the Watermark ...
Friday, 12 June 09
CHINA TOP POWER COS SIGN REGIONAL COAL DEALS - REUTERS
China's top five power generating groups have signed 2009 coal supply contracts with miners in Guizhou and Xinjiang, with prices up 4 percent on th ...
Friday, 12 June 09
MERCATOR LINES TARGETS 30 MILLION TONNE FROM MOZAMBIQUE COAL MINE - STEEL GURU
India’s second largest private shipping company Mercator Lines has targeted production of 30 million tonnes of coal from its Mozambique mine o ...
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- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
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