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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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Thursday, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
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