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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, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains sup ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
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- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- The University of Queensland
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Planning Commission, India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Economic Council, Georgia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
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