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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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- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Australian Coal Association
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
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