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