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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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Friday, 25 September 09
FREIGHT RATE CUTS MAKING SOUTH AFRICAN COAL MORE COMPETITIVE IN ASIAN MARKETS
Mining Weekly reported that, Coaltrans South Africa MD Gerard Strahan highlighted the country’s sudden increase in coal exports to southern Ch ...
Friday, 25 September 09
XSTRATA TO BUILD ITS OWN RAIL CAPACITY TO SHIP AUSTRALIAN COAL
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used by power stations, will establish its own rail haulage capacit ...
Thursday, 24 September 09
INDIA CEMENT CO'S TO AWARD 200,000T COAL TENDER
Reuters reported that, India's biggest cement maker ACC Cement Ltd and Gujarat Ambuja will award on Thursday Sept 25 a tender for 100,000 tonnes ea ...
Thursday, 24 September 09
YUDEAN TO SIGN CO-OPERATION LETTER OF INTENT WITH RUSSIA COAL TRADE COMPANY
In the recent days, Gao Shiqiang, deputy manager of Yudean Group Co., Ltd. went and carried out the friendly talks with SUEK and inked the trade co- ...
Thursday, 24 September 09
ANGLO EYES DOUBLED METALLURGICAL COAL OUTPUT BY 2018
Mining group Anglo American could double its production of coal used for steel making by 2018 if all of its unapproved projects went ahead, the comp ...
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- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- The University of Queensland
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
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