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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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Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
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- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- White Energy Company Limited
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Planning Commission, India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
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