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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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Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
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- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- Ministry of Mines - Canada
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
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