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