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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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Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
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- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Australian Coal Association
- Economic Council, Georgia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
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