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