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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, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
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