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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, 17 December 09
THE 6TH CLEAN ENERGY FORUM - CLEAN COAL 2010
COALspot.com (China) - Press Release: The 6th Clean Energy Forum--Clean Coal 2010 January 27-29, 2010 Renaissance Tianjin Teda Hotel And Conven ...
Thursday, 17 December 09
JFE STEEL INVESTS $555 MILLION IN AUSTRALIA COAL MINE
JFE Steel Corp., Japan’s second- largest producer, will invest 50 billion yen ($555 million) in a coal mine in Queensland, Australia, includin ...
Thursday, 17 December 09
CHINA, INDIA DEMAND MAY BOOST THERMAL COAL PRICE, JPMORGAN SAYS
Demand for thermal coal from China and India may boost prices of the fuel to $80 a metric ton next year amid reduced supplies and lower inventories, ...
Thursday, 17 December 09
RBCT PROBLEMS TO CAUSE STEAM COAL PRICE SPIKE IN Q1
Bugs in the new computer system at South Africa's Richards Bay Coal Terminal and persistent rail problems will make it impossible for exporters to ...
Thursday, 17 December 09
CIL TO IMPORT 4 MILLION TONNES COAL FOR NTPC
The country's largest coal miner Coal India Ltd (CIL) will import 4 million tonnes of coal for state-run power company NTPC.
"Earlier, ther ...
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- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- White Energy Company Limited
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- The University of Queensland
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
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