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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, 12 March 09
ANALYSIS-FIRST NEW JAPAN COAL DEAL MAY NOT SET BENCHMARK - FOREXPROS.COM
* Informal coal-deal practice may come to an end this year
* Buyers expected to ask for a discount
* Biggest losers may be Chinese coal suppli ...
Thursday, 12 March 09
DEPARTMENT RECEIVES REPORT FROM GEOLOGICAL BODY AND NEDO - ESDM
The Geological Body of the Department of Energy and Mineral Resources have presented their Joint Study on Evaluation of Coal Resources and Reserves ...
Wednesday, 11 March 09
TENAGA SHARES CLIMB AS LOWER COAL PRICES CUT COSTS - BLOOMBERG
Bloomberg reported that, Tenaga Nasional Bhd., Malaysia’s state-controlled utility, climbed the most in a month in Kuala Lumpur trading as coal ...
Wednesday, 11 March 09
POSCO WINS 63% CUT IN PULVERIZED COAL PRICES, MACQUARIE SAYS - BLOOMBERG
Bloomberg reported that, Posco, Asia’s third-biggest steelmaker, has settled the first pulverized coal contracts for 2009 at $90 a metric ton ...
Wednesday, 11 March 09
COAL EXPORTERS FEEL THE CHILL FROM ASIAN DOWNTURN -BUSINESS.SMH.COM
Business.smh.com reproted that, The demand for thermal coal - NSW's most valuable export - has begun to reduce dramatically in response to the need ...
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- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
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