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