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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, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
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- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Ministry of Mines - Canada
- White Energy Company Limited
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