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