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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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Saturday, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Economic Council, Georgia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- The University of Queensland
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
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