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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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Wednesday, 20 May 09
CIL MAY URGE NEW GOVERNMENT TO HIKE COAL PRICE - STEELGURU
BL reported that soon after assuming office the new government may be faced with a proposal for an increase in prices of coal by Coal India Limited ...
Wednesday, 20 May 09
S.KOREA COAL IMPORTS IN APRIL DOWN 22 PCT Y/Y - REUTERS
South Korea's imports of heating coal in April fell 22 percent from a year earlier on bearish demand from domestic utilities, industry data showed ...
Wednesday, 20 May 09
THE WORLD'S TOP COAL TRADING COMPANIES - REUTERS
The international physical steam coal market has become increasingly liquid and tradeable during the past five years.
Physical global seaborne co ...
Wednesday, 20 May 09
SHIPPING INDEX RISES TO 7-MONTH HIGH AS CHINESE DEMAND ADVANCES - BLOOMBERG
The Baltic Dry Index, a measure of shipping costs for commodities, rose to a seven-month high in London on accelerating Chinese demand for iron ore. ...
Saturday, 16 May 09
FREIGHT MARKET HAS BEEN EXTREMELY BUOYANT - VISTAAR SINGAPORE
COALspot.com (Singapore): The week saw the BDI rally continuing and the market freight market has been extremely buoyant, VISTAAR Shipping Pte Limit ...
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- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- White Energy Company Limited
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- The University of Queensland
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