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