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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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Monday, 08 June 09
PRIVATE COAL MINERS LIKELY TO LAND COMMERCIAL LICENSE - ECONOMIC TIMES
Economic Times of India reported that, The government may allow commercial coal mining by private companies as it looks to plug the demand-supply ga ...
Monday, 08 June 09
SAN MIGUEL EYES LOCAL MINING VENTURES - PHILIPPINE DAILY INQUIRER
Philippine Daily Inquirer reported that, Diversifying conglomerate San Miguel Corp.is making big plans for Philippine mining, seen as an industry th ...
Monday, 08 June 09
NAPOCOR BUYING COAL FOR PAGBILAO PLANT - PHILIPPINE DAILY INQUIRER
Philippine Daily Inquirer reported that, State-run National Power Corp. plans to buy 390,000 metric tons of steaming coal next month, to supply the ...
Sunday, 07 June 09
SEMIRARA SELLING COAL TO THAILAND - STEELGURU
Business Mirror reported that coal producer Semirara Mining Corporation has successfully entered the Thailand market during the Q1 of the year, help ...
Saturday, 06 June 09
IS THE RECESSION OVER ? - CAPT. REDDY, VISTAAR SHIPPING
COALspot.com (Singapore): Is the recession over, that is what most analysts think and seems so from the Baltic Index rally and firm commodity ...
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- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
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