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