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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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Thursday, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Australian Coal Association
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Planning Commission, India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
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