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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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Thursday, 17 December 20
CHINA'S BAN IS LESS OF A THREAT TO AUSTRALIA'S COAL INDUSTRY THAN INTERNATIONAL CLIMATE AMBITION - IEEFA
Australian coal exporters will survive this near-term political fight but there are longterm structural headwinds
The decision by Ch ...
Thursday, 17 December 20
BUMA SIGNED US$1.0 BILLION WORTH OF EXTENSION CONTRACT WITH BERAU COAL
PT Bukit Makmur Mandiri Utama, subsidiary of PT Delta Dunia Makmur Tbk., has extended its mining services contracts with PT Berau Coal, in relation ...
Wednesday, 16 December 20
INDONESIA 2020 COAL CONSUMPTION ESTIMATED AT 140-145 MLN TONNES - OFFICIAL, REUTERS REPORTED
Indonesia’s domestic coal consumption is estimated at 140-145 million tonnes this year, Dodik Ariyanto, an official at the energy ministry, t ...
Wednesday, 16 December 20
RUSSIA REVISES DOWN EXPORT EXPECTATION - FITCH
The Ministry of Economy of Russia, the world’s third largest thermal coal exporting country, released its annual forecasts ...
Wednesday, 16 December 20
INDIAN COAL IMPORTS TO REMAIN SUBDUED - FITCH RATINGS
Fitch Rating commented on Indian Coal Imports, Fitch said, coal imports by Indian utilities fell by about 24% yoy to 44 million tonnes (mt) i ...
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- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
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