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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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Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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