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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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Tuesday, 28 April 09
S'PORE COURT RULES AGAINST DEUTSCHE ON ASSET SALE - REUTERS
Singapore's highest court has ruled that Deutsche Bank (DBKGn.DE) may have to pay unspecified damages to an investment firm as it did not get the b ...
Tuesday, 28 April 09
WORLD THERMAL COAL PRICE EXPECTED TO CRASH - PURCHASING.COM
Macquarie Bank sees 50% drop to $60/ton in 2009
Macquarie Bank today forecast the 2009 average market price for world thermal coal at $60/ton, a ...
Tuesday, 28 April 09
THAI LANNA TO OPEN NEW INDONESIAN MINE BY Q3 - REUTERS
Thailand's Lanna Resources PCL LANN.BK said on Monday it planned to open a new coal mine in Indonesia by the third quarter of 2009 with an initial ...
Tuesday, 28 April 09
SOUTH AFRICAN EXPORT COAL RETREATS ON WEAKER EUROPEAN DEMAND - BLOOMBERG
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, fell for a second co ...
Monday, 27 April 09
INDONESIA S.KALIMANTAN GETS COAL TRUCKS OFF PUBLIC ROADS - REUTERS
A local government in one of Indonesia's top coal-producing areas has banned coal and palm oil firms from using public roads because of the damage ...
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- ICICI Bank Limited - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
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