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