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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, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
Wednesday, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
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- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Planning Commission, India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
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