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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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Friday, 07 August 09
COAL-PRICE FORECAST RAISED AT MERRILL ON CHINA, INDIA DEMAND
Bloomberg reported that, Bank of America Corp.’s Merrill Lynch & Co. unit increased its price forecast for Asian power-station coal becaus ...
Friday, 07 August 09
CHINESE DEMAND FOR FOREIGN COAL SOARS
Mining Weekly reported that, Chinese coal imports rocketed by 126,3%, year-on-year, in the first half of this year, the country’s customs auth ...
Thursday, 06 August 09
RICHARDS BAY COAL SHIPMENTS FELL 3% ON YEAR IN JULY
Bloomberg reported that, Richards Bay Coal Terminal, Africa’s largest coal-export facility, exported 3 percent less of the fuel in July than i ...
Thursday, 06 August 09
NTPC LOOKS TO BYPASS STATE TRADING FIRMS ON COAL IMPORT
A reduced coal import bill for NTPC could lead to lower power tariffs
Live mint.com reported that, India’s largest power generation utility ...
Thursday, 06 August 09
CHINA JULY COAL IMPORTS AT 9.5 MLN T, DEMAND FIRM
* Coal imports at key ports in July 2.8 times year-ago levels
* July coal imports down nearly 40 percent from June
* China still buying overseas c ...
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- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Planning Commission, India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
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