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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, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
Sunday, 17 April 11
THE FREIGHT MARKET APPEARS WILL CONTINUE TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - "The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 p ...
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- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Planning Commission, India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
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