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