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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, 04 June 09
ASIA COAL - PRICES RISE TO 31/2 MTH HIGH ON OIL, ECONOMY - INTERACTIVE INVESTOR
Interactive Investor reported that, Prices of power-station coal from Australia, a benchmark for Asia, rose to a three-and-a-half-month high of over ...
Thursday, 04 June 09
PTT: RESTRUCTURING BUSINESS, DIVERSIFYING INTO COAL - EASYBOURSE
Thailand's largest energy conglomerate, PTT PCL (PTT.TH), will diversify into coal as part of its business restructuring, Senior Executive Vice Pre ...
Thursday, 04 June 09
ADARO SECURES THREE NEW CONTRACTS, SAYS OUTLOOK POSITIVE - THE JAKARTA POST
Publicly listed PT Adaro Energy, the country's second largest coal miner, announced Wednesday it had secured three new coal contracts from buyers f ...
Wednesday, 03 June 09
XSTRATA, KOMIPO AGREE SOME '09 COAL TONNAGE AT $63/T- REUTERS
South Korean utility Korea Midland Power Co (KOMIPO) has agreed to buy part of its 2009 term contract tonnage from Xstrata's coal unit at about $63 ...
Wednesday, 03 June 09
KOSEP SEEKS UP TO 3 MLN TONNES OF COAL - REUTERS
Korea South-East Power Co Ltd (KOSEP) has issued four tenders seeking a total of 3 million tonnes of coal for delivery between 2009 to 2011, a tende ...
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- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
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