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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, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
Tuesday, 25 August 09
COAL OUTPUT TO RISE IN H2 BUT EXPORTS TO GO FLAT
The leading english news paper in Indonesia reported that, It is estimated coal production will rise by 5.7 percent in the second semester from a ye ...
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- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- GMR Energy Limited - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
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