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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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Thursday, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
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- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
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