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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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Friday, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
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- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
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