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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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Thursday, 16 April 20
CHINA'S BENCHMARK POWER COAL PRICE FALLS 5 YUAN PER TONNE - XINHUA
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Thursday, 16 April 20
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Monday, 13 April 20
SUPRAMAX: A 56,000DWT SHIP WAS FIXED DELIVERY PARADIP, REDELIVERY CHINA, AT $4,700 - BALTIC BRIEFING
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Saturday, 11 April 20
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KNOWLEDGE TO ELEVATE
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Saturday, 11 April 20
KOEN POWER PLANTS INVITED BIDS FOR 1.5 -1.62 MMT OF STEAM COAL
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- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- White Energy Company Limited
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
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