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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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Friday, 26 June 09
BAYAN TARGETS GROSS PROFIT TO RISE BY 86.2 PERCENT
Local coal producer publicly listed PT Bayan Resources is targeting this year's gross profit to rise by 86.2 percent on the back of higher sales vo ...
Thursday, 25 June 09
INDIA'S ULTRATECH BUYS 500,000T S.AFRICA COAL
Indian cement maker Ultratech has bought 10 handymax cargoes of South African coal at $73.00-$74.00 a tonne CIF for July-September delivery, Indian ...
Wednesday, 24 June 09
NTPC BURNS MORE COAL TO PRODUCE ELECTRICITY
A tonne of coal is the same as another tonne of coal, you might think.
But power major NTPC Ltd is finding that this year’s coal is not yie ...
Wednesday, 24 June 09
NTPC, COAL INDIA TO BUY MINING ASSETS OVERSEAS
State-owned utility National Thermal Power Corporation (NTPC) and the largest coal producer Coal India are in advanced stages of acquiring mining as ...
Tuesday, 23 June 09
NEWCASTLE WEEKLY COAL EXPORTS DECREASE 15%; SHIP QUEUE RISES
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 15 percent last week while the numb ...
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- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Australian Coal Association
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Electricity Authority, New Zealand
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- The University of Queensland
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
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