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