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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, 30 July 09
PNOC FORGES JOINT VENTURES AS STEPS UP COAL OPERATIONS
The Philippine National Oil Co.-Exploration Corp. has entered joint venture agreements with food and beverage conglomerate San Miguel and Filipinas ...
Thursday, 30 July 09
NAMANE OF SOUTH AFRICA IN SUDAN COAL DEAL, BUSINESS REPORT SAYS
Namane of South Africa in Sudan Coal Deal, Business Report Says
Namane Resources Ltd. of South Africa signed a coal-supply agreement with the Nat ...
Wednesday, 29 July 09
RP COAL DEMAND TO SURGE BY 2014 - PHILIPPINES UPDATE
CEBU, Philippines - With the entry of new coal-fired power generation plants in the Philippines, the Department of Energy (DOE) projected an increas ...
Wednesday, 29 July 09
INDIA HUNGRY FOR OUR COKING COAL ASSETS
The Australian reported that, INDIA is about to embark on a program of rapid coal sector acquisitions in Australia as it looks to plug a huge annual ...
Tuesday, 28 July 09
SHENZHEN ENERGY INKS COAL PURCHASE CONTRACT WITH CHINA SHENHUA
China Knowledge reported that, Shenzhen Energy Group Co Ltd has signed a five-year contract with China Shenhua Energy Co Ltd, which is engaged in th ...
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- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Parliament of New Zealand
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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