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