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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, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Planning Commission, India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
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