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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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Wednesday, 22 July 09
TAIPOWER RECEIVES 37 OFFERS IN TENDERS
State utility Taiwan Power has received offers for 37 panamax cargoes of bituminous and sub-bituminous coal in two tenders involving 12 panamax ship ...
Wednesday, 22 July 09
PRIME MINISTER APPROVAL SOUGHT TO HIKE COAL PRICES IN INDIA
PTI reported that decrying the low prices of the industrial fuel, the coal ministry will approach Dr Manmohan Singh PM of India next month for raisi ...
Tuesday, 21 July 09
BHATIA SAYS GETS ORDER FOR 800,000T COAL FROM KPCL
Reuters reported that, Indian traders Bhatia received on Tuesday a purchase order for 800,000 tonnes thermal coal at $63.00 C&F from Karnataka P ...
Tuesday, 21 July 09
NZ'S PIKE RIVER SAYS SELLS COAL AT $128 PER TONNE
Reuters reported that, New Zealand miner Pike River Coal said on Tuesday it had sold its premium hard coking coal at $128 a tonne for the curr ...
Tuesday, 21 July 09
NEWCASTLE COAL EXPORTS FALL 5%, SHIP QUEUE INCREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 5 per ...
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- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- The University of Queensland
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Australian Coal Association
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
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