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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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- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
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