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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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Wednesday, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
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- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
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