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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, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
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- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
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