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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, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
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