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