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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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Saturday, 04 July 09
S. AFRICA'S RICHARDS BAY TO CAP NEW COAL VOLUMES, MININGMX SAYS
South Africa’s Richards Bay Coal Terminal is proposing restrictions on the quotas it awards to coal exporters from the so-called Phase 5 expansi ...
Saturday, 04 July 09
DALRYMPLE BAY COAL TERMINAL EXPANSION COMPLETE
BABCOCK & Brown Infrastructure has completed expansion of the Dalrymple Bay Coal Terminal (DBCT) near Mackay, Queensland.
The terminal is now ...
Friday, 03 July 09
CHINA SHENHUA TO DOUBLE COAL CAPACITY BY 2014-PAPER
China Shenhua Energy Co Ltd plans to double its annual coal production capacity by 2014 from this year's level, the China Securities Journal report ...
Friday, 03 July 09
UKRAINE CUTS COAL PRODUCTION 9.3 PERCENT IN H1
Ukraine reduced coal production approximately 9.3%, or by 3.673 million tonnes, to 35.879 million tonnes in the first half of 2009 compared to the s ...
Thursday, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
* Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand ma ...
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- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
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