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