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