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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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Tuesday, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
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- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- The University of Queensland
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
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