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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, 22 July 09
TAIPOWER RECEIVES 37 OFFERS IN TENDERS
State utility Taiwan Power has received offers for 37 panamax cargoes of bituminous and sub-bituminous coal in two tenders involving 12 panamax ship ...
Wednesday, 22 July 09
PRIME MINISTER APPROVAL SOUGHT TO HIKE COAL PRICES IN INDIA
PTI reported that decrying the low prices of the industrial fuel, the coal ministry will approach Dr Manmohan Singh PM of India next month for raisi ...
Tuesday, 21 July 09
BHATIA SAYS GETS ORDER FOR 800,000T COAL FROM KPCL
Reuters reported that, Indian traders Bhatia received on Tuesday a purchase order for 800,000 tonnes thermal coal at $63.00 C&F from Karnataka P ...
Tuesday, 21 July 09
NZ'S PIKE RIVER SAYS SELLS COAL AT $128 PER TONNE
Reuters reported that, New Zealand miner Pike River Coal said on Tuesday it had sold its premium hard coking coal at $128 a tonne for the curr ...
Tuesday, 21 July 09
NEWCASTLE COAL EXPORTS FALL 5%, SHIP QUEUE INCREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 5 per ...
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- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- White Energy Company Limited
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Planning Commission, India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
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