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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, 25 September 09
FREIGHT RATE CUTS MAKING SOUTH AFRICAN COAL MORE COMPETITIVE IN ASIAN MARKETS
Mining Weekly reported that, Coaltrans South Africa MD Gerard Strahan highlighted the country’s sudden increase in coal exports to southern Ch ...
Friday, 25 September 09
XSTRATA TO BUILD ITS OWN RAIL CAPACITY TO SHIP AUSTRALIAN COAL
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used by power stations, will establish its own rail haulage capacit ...
Thursday, 24 September 09
INDIA CEMENT CO'S TO AWARD 200,000T COAL TENDER
Reuters reported that, India's biggest cement maker ACC Cement Ltd and Gujarat Ambuja will award on Thursday Sept 25 a tender for 100,000 tonnes ea ...
Thursday, 24 September 09
YUDEAN TO SIGN CO-OPERATION LETTER OF INTENT WITH RUSSIA COAL TRADE COMPANY
In the recent days, Gao Shiqiang, deputy manager of Yudean Group Co., Ltd. went and carried out the friendly talks with SUEK and inked the trade co- ...
Thursday, 24 September 09
ANGLO EYES DOUBLED METALLURGICAL COAL OUTPUT BY 2018
Mining group Anglo American could double its production of coal used for steel making by 2018 if all of its unapproved projects went ahead, the comp ...
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- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
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