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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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Wednesday, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
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