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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, 20 April 09
PT PAMAPERSADA SEES ITS REVENUE TO CLIMB BY 20% IN 2009 - STEELGURU
PT Pamapersada Nusantara, a unit of Indonesia's PT United Tractors, said that its 2009 profit will be similar to last year, even as it forecasts re ...
Monday, 20 April 09
NIPPON STEEL SEMI-SOFT COAL PRICE SAID TO DROP 67% - BLOOMBERG
Nippon Steel Corp., Japan’s largest mill, will pay up to 67 percent less for semi-soft coking coal this fiscal year, two industry executives w ...
Monday, 20 April 09
INTERNATIONAL INVESTORS SEEK TO SELL ADARO STAKES - MONEY.CNN
Some international investors in PT Adaro Energy ( ADRO.JK) have approached other companies to sell around a combined 17% stake in the coal miner via ...
Friday, 17 April 09
BHATIA COAL INDIA, VITOL IN DISPUTE - COAL JUNCTION
Bhatia Coal India, a subsidiary of the Bhatia International Group, terminated a coal supply contract with traders Vitol and has initiated arbitratio ...
Friday, 17 April 09
JSW TO BUY THERMAL COAL MINE IN AFRICA
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million tons, to min ...
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- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
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