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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, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
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- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
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