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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, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
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