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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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Monday, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
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- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Economic Council, Georgia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
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