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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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Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month ...
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- The University of Queensland
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
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