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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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Wednesday, 09 September 09
CHINESE INTEREST IN AUSTRALIA COAL TICKS UP AS PRICES FALL
After a lull of about two months, Australian thermal coal producers are now seeing renewed interest from Chinese buyers for spot cargoes in the four ...
Wednesday, 09 September 09
SALES FORECAST UP ON BETTER DISTRIBUTION
The Jakarta Post reported that, State coal producer PT Tambang Batubara Bukit Asam (PT BA) expects coal sales to rise by 11 percent next year as it ...
Wednesday, 09 September 09
NTPC HIRES MACQUARIE TO ADVISE INDONESIA COAL MINE PURCHASE
Bloomberg reported that, NTPC Ltd., Asia’s biggest power utility by value, has hired Macquarie Group Ltd. to evaluate a proposed coal mine pur ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL FALLS MOST IN 11 WEEKS ON EXCESSIVE PRICES
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Tuesday, 08 September 09
INDIA MAY HAVE A JOINT WORKING GROUP FOR COAL WITH INDONESIA: SRIPRAKASH JAISWAL - PRESS RELEASE
Press Information Bureau of India reported in its web site that, The Coal Ministry has, in principle, agreed to set up a Joint Working Group for coa ...
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- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- White Energy Company Limited
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- The University of Queensland
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Planning Commission, India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
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