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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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Monday, 20 July 09
INDONESIA PRODUCES 72 MILLION MT IN FIRST HALF OF YEAR: OFFICIAL
Indonesia produced 72 million mt of coal in the first half of 2009, or 31.3% of the government’s target this year, a senior government officia ...
Sunday, 19 July 09
JINDAL S&P IN TALKS TO BUY SA COAL MINE FOR RS 350-400 CR (US$ 80 - 90 MILLION)
Economic Times reported that, Naveen Jindal-led Jindal Steel & Power (JSPL) is acquiring a thermal coal mine in South Africa, a top company exec ...
Saturday, 18 July 09
REN POWER CZ COMMISSIONS ANOTHER PHOTOVOLTAIC POWER STATION
COALspot.com (Press Release): REN Power CZ, a company in the Czech Coal Group, has put into operation another photovoltaic power station. The plant ...
Saturday, 18 July 09
THE FUTURE FOR SUPRAMAX FOR NEXT 3 YEARS TILL 2012 WOULD BE AROUND US$ 13,500 PER DAY - CAPT. REDDY
COALspot.com ( Singapore): The market moved up sharply this week , which was quite unexpected.
The BDI was up by 557 which is an increase of 18 ...
Friday, 17 July 09
CHINA COAL-SPOT PRICES EDGE LOWER, SUPPLY APLENTY
China Mining reported that, spot prices in China's top coal shipping port Qinhuangdao edged lower from a week earlier, as supply grew, offsetting t ...
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- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Petron Corporation, Philippines
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