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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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- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Australian Coal Association
- Edison Trading Spa - Italy
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
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