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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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- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
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