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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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Saturday, 04 July 09
S. AFRICA'S RICHARDS BAY TO CAP NEW COAL VOLUMES, MININGMX SAYS
South Africa’s Richards Bay Coal Terminal is proposing restrictions on the quotas it awards to coal exporters from the so-called Phase 5 expansi ...
Saturday, 04 July 09
DALRYMPLE BAY COAL TERMINAL EXPANSION COMPLETE
BABCOCK & Brown Infrastructure has completed expansion of the Dalrymple Bay Coal Terminal (DBCT) near Mackay, Queensland.
The terminal is now ...
Friday, 03 July 09
CHINA SHENHUA TO DOUBLE COAL CAPACITY BY 2014-PAPER
China Shenhua Energy Co Ltd plans to double its annual coal production capacity by 2014 from this year's level, the China Securities Journal report ...
Friday, 03 July 09
UKRAINE CUTS COAL PRODUCTION 9.3 PERCENT IN H1
Ukraine reduced coal production approximately 9.3%, or by 3.673 million tonnes, to 35.879 million tonnes in the first half of 2009 compared to the s ...
Thursday, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
* Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand ma ...
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- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- White Energy Company Limited
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Independent Power Producers Association of India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
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