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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, 20 September 22
CHINA COAL OUTPUT UP 8.1 PCT IN AUGUST - XINHUA
China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million tonnes of ra ...
Monday, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
...
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- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- The University of Queensland
- White Energy Company Limited
- Medco Energi Mining Internasional
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
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