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