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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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Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month ...
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- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- The University of Queensland
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
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