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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, 23 March 09
STRAITS TO SELL STAKE IN COAL ASSETS TO PTT -THEAUSTRALIAN.NEWS.COM
STRAITS Resources will sell a 60 per cent stake in its Indonesian coal assets to Thailand's PTT International Co. for $US335 million.
The transa ...
Monday, 23 March 09
BMA TAKES 60 PCT CUT IN JAPAN COKING COAL PRICE-CITI - REUTERS
BHP Billiton Mitsubishi Alliance (BMA), the world's top coking coal exporter, has agreed to accept a discount of around 60 percent for the steel-ma ...
Sunday, 22 March 09
SHENHUA ENERGY'S 2009 COAL PRODUCTION MAY GAIN 8% - BLOOMBERG
China Shenhua Energy Co., the nation’s biggest coal producer, may increase production of the energy fuel by about 8 percent this year, slower ...
Friday, 20 March 09
INDONESIA ORDERS TEMPORARY HALT AT BAYAN COAL MINE - REUTERS
Indonesia has ordered a coal mining unit of PT Bayan Resources to temporarily stop production for operating outside approved areas, a government off ...
Friday, 20 March 09
COKING-COAL PRICE STRUCK AT $115-$125, CITIGROUP SAYS - BLOOMBERG
BHP Billiton Ltd., the world’s largest miner, agreed with Nippon Steel Corp. to benchmark coking coal prices of $115 to $125 a metric ton, Cit ...
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- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
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