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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, 30 July 09
PNOC FORGES JOINT VENTURES AS STEPS UP COAL OPERATIONS
The Philippine National Oil Co.-Exploration Corp. has entered joint venture agreements with food and beverage conglomerate San Miguel and Filipinas ...
Thursday, 30 July 09
NAMANE OF SOUTH AFRICA IN SUDAN COAL DEAL, BUSINESS REPORT SAYS
Namane of South Africa in Sudan Coal Deal, Business Report Says
Namane Resources Ltd. of South Africa signed a coal-supply agreement with the Nat ...
Wednesday, 29 July 09
RP COAL DEMAND TO SURGE BY 2014 - PHILIPPINES UPDATE
CEBU, Philippines - With the entry of new coal-fired power generation plants in the Philippines, the Department of Energy (DOE) projected an increas ...
Wednesday, 29 July 09
INDIA HUNGRY FOR OUR COKING COAL ASSETS
The Australian reported that, INDIA is about to embark on a program of rapid coal sector acquisitions in Australia as it looks to plug a huge annual ...
Tuesday, 28 July 09
SHENZHEN ENERGY INKS COAL PURCHASE CONTRACT WITH CHINA SHENHUA
China Knowledge reported that, Shenzhen Energy Group Co Ltd has signed a five-year contract with China Shenhua Energy Co Ltd, which is engaged in th ...
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- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
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