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