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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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Tuesday, 28 July 09
BUKIT ASAM ENJOYS STRONG FIRST HALF
The Jakarta Post reported that, state coal miner PT Tambang Batubara Bukit Asam (PTBA) enjoyed a strong first half performance with six-month net pr ...
Tuesday, 28 July 09
NEWCASTLE LOADED 1.943 MILLION TONS OF COAL IN THE WEEK ENDED 27TH JULY 2009
COALspot.com (Singapore) : The volume exported from Australia’s Newcastle port in the week ended - 07:00 hours 27 July 2009 ...
Monday, 27 July 09
INDIA PAYING HIGHEST PRICE FOR S.AFRICA COAL - PRODUCERS
* Spread between South African and Pacific origin coal very wide
* Lack of European buying makes India indicator of value
Reuters reported that, ...
Monday, 27 July 09
TAIWAN'S FORMOSA EYES S.AFRICAN COAL FOR Q4: TRADE
Reuters reported that, Taiwan's Formosa Plastics Group is looking to buy two South African thermal coal cargoes for delivery in the fourth-quarter, ...
Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
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- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
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