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