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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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Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
Monday, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
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- Xindia Steels Limited - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
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