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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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Saturday, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
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- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Marubeni Corporation - India
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