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