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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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Tuesday, 28 July 09
BUKIT ASAM ENJOYS STRONG FIRST HALF
The Jakarta Post reported that, state coal miner PT Tambang Batubara Bukit Asam (PTBA) enjoyed a strong first half performance with six-month net pr ...
Tuesday, 28 July 09
NEWCASTLE LOADED 1.943 MILLION TONS OF COAL IN THE WEEK ENDED 27TH JULY 2009
COALspot.com (Singapore) : The volume exported from Australia’s Newcastle port in the week ended - 07:00 hours 27 July 2009 ...
Monday, 27 July 09
INDIA PAYING HIGHEST PRICE FOR S.AFRICA COAL - PRODUCERS
* Spread between South African and Pacific origin coal very wide
* Lack of European buying makes India indicator of value
Reuters reported that, ...
Monday, 27 July 09
TAIWAN'S FORMOSA EYES S.AFRICAN COAL FOR Q4: TRADE
Reuters reported that, Taiwan's Formosa Plastics Group is looking to buy two South African thermal coal cargoes for delivery in the fourth-quarter, ...
Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
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- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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