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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, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
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- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Australian Coal Association
- The University of Queensland
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- PTC India Limited - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
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