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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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Monday, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Planning Commission, India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
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