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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, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- MS Steel International - UAE
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
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