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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, 06 June 09
COAL PRICE HIT RECORD ON STRONG CHINA DEMAND - INVESTMENT WATCH
Investment watch reported that, “Coal price hit a new high of over $72 a tonne at Australia’s Newcastle Port, a benchmark for Asia, spur ...
Friday, 05 June 09
CEMENT INDUSTRY NEEDS POLICY ON FLY ASH
H.M. Bangur, President of Cement Manufacturers' Association, on the objectives and economic impact of the proposed national policy on utilisation o ...
Thursday, 04 June 09
PAKISTAN TO IMPORT MORE COAL FROM INDONESIA - SEATRADE
COALspot.com (Pakistan): Richards bay to Pakistan sea freight has touched US$ 20.00 for 40,000/10 pct steam size in June 2009. South African c ...
Thursday, 04 June 09
CHINA'S SHANXI PROVINCE CONSIDERS COAL FUTURES BOURSE - MINE WEB
Mine Web reported that, China hopes to establish a coal futures exchange to obtain more rights on international pricing.
China's largest coal pr ...
Thursday, 04 June 09
CHINA QINHUANGDAO COAL STOCK JUMPS BY 36.2% MOM - STEELGURU
SteelGuru reported that, Sources indicated that, coal stock at Qinhuangdao port, China's major coal port has reached 4.88 million tonnes increasing ...
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- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
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