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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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Monday, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
Sunday, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Friday, 25 January 13
SMALL ROOM FOR OPTIMISM FOR THE PROSPECTS OF THE DRY BULK MARKET AS NET FLEET GROWTH IS SLOWING DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market didn't manage to post a rebound during the past year, quite the opposite, as a fast fleet growth and slow ...
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- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- The University of Queensland
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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