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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, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
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- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- PTC India Limited - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
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