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