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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, 30 December 09
INDIA CEMENTS TO FINALIZE 3 SHIPMENTS OF SOUTH AFRICAN COAL NEXT WEEK
COALspot.com (India): India Cements is looking for 3 shipments (150,000MT) of South African coal for January – March 2010 delivery on C ...
Wednesday, 30 December 09
BANPU EXPECTS STABLE COAL PRICES
2009 revenue growth will be hard to beat
Banpu Plc, Asean's largest coal miner, expects coal prices to stay firm at about US$80 per tonne in the f ...
Wednesday, 30 December 09
CIL DELISTS JAGUAR ENERGY FOR KODA LINKS
Coal India Ltd (CIL) has dropped Indonesia-based Jaguar Energy & Power Ltd from the list of companies, it intended to forge partnerships with to ...
Wednesday, 30 December 09
COAL PRICE RISE REQUEST DENIED
A proposal by the Viet Nam National Coal and Mineral Industries Group to double the price of coal has been turned down by the Ministry of Industry a ...
Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
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- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- White Energy Company Limited
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
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