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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, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
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