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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, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
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- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Planning Commission, India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
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