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