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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, 21 July 09
FIRST QUARTER COAL MARKET AND EURACOAL'S OUTLOOK FOR THE FUTURE
Euracoal reports that for the first time in many years, the world market for hard coal fell by some 8 % during the first quarter 2009. This latest E ...
Monday, 20 July 09
CHINAS COAL DEMAND, OUTPUT TO PICK UP IN H2 - GROUP 2
Financial24 reported that, China's coal demand is expected to gradually pick up in the second half of the year, and coal output will likely grow fa ...
Monday, 20 July 09
ADANI POWER LAUNCHES IPO, AIMS HIGHER CAPACITY
Economic Times reported that, Adani Power Ltd, a power project development company, promoted by Adani Enterprise went for an initial public offering ...
Monday, 20 July 09
BANPU'S SECOND-HALF PROFIT MAY DROP ON COAL PRICES
Bloomberg Reported that, Banpu Pcl, Thailand’s biggest coal producer, expects profit to decline in the second half from the first six months a ...
Monday, 20 July 09
CHINA COAL PRODUCES 52.7 MLN TONNES OF COAL IN 1H, UP 5.4 PCT
China Mining reported that, China Coal Energy Co., the country's second largest coal producer, said Saturday that it produced 52.67 million tonnes ...
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- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- The University of Queensland
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- White Energy Company Limited
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
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