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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, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
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- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
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