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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, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
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- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- PTC India Limited - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
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