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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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Monday, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Xindia Steels Limited - India
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