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