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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, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
Tuesday, 25 August 09
COAL OUTPUT TO RISE IN H2 BUT EXPORTS TO GO FLAT
The leading english news paper in Indonesia reported that, It is estimated coal production will rise by 5.7 percent in the second semester from a ye ...
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- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Australian Coal Association
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
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