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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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Thursday, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
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