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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, 16 December 09
COAL MARKETS 2010 CONFERENCE - PRESS RELEASE
COALspot.com (Singapore) Press Release – Back for the 8th year, Coal Markets 2010 will be taking place in Singapore on 28 – 29 Jan ...
Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring ba ...
Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coki ...
Wednesday, 16 December 09
UAE'S RAS AL KHAIMAH TO INVEST $5.2B IN EAST KALIMANTAN PROJECT
Shrugging off neighbor Dubai’s debt problems, the smaller United Arab Emirate of Ras Al Khaimah announced on Tuesday that it would increase it ...
Wednesday, 16 December 09
COECLERICI EYES SECOND RUSSIA COAL MINE
* CEO says "seriously considering" mid-small size purchase
* Will use mine to increase exports to Asia
* Says delays at ports will not c ...
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- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Australian Coal Association
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- MS Steel International - UAE
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