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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, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
Friday, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
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- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
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