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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, 17 December 20
CHINA'S BAN IS LESS OF A THREAT TO AUSTRALIA'S COAL INDUSTRY THAN INTERNATIONAL CLIMATE AMBITION - IEEFA
Australian coal exporters will survive this near-term political fight but there are longterm structural headwinds
The decision by Ch ...
Thursday, 17 December 20
BUMA SIGNED US$1.0 BILLION WORTH OF EXTENSION CONTRACT WITH BERAU COAL
PT Bukit Makmur Mandiri Utama, subsidiary of PT Delta Dunia Makmur Tbk., has extended its mining services contracts with PT Berau Coal, in relation ...
Wednesday, 16 December 20
INDONESIA 2020 COAL CONSUMPTION ESTIMATED AT 140-145 MLN TONNES - OFFICIAL, REUTERS REPORTED
Indonesia’s domestic coal consumption is estimated at 140-145 million tonnes this year, Dodik Ariyanto, an official at the energy ministry, t ...
Wednesday, 16 December 20
RUSSIA REVISES DOWN EXPORT EXPECTATION - FITCH
The Ministry of Economy of Russia, the world’s third largest thermal coal exporting country, released its annual forecasts ...
Wednesday, 16 December 20
INDIAN COAL IMPORTS TO REMAIN SUBDUED - FITCH RATINGS
Fitch Rating commented on Indian Coal Imports, Fitch said, coal imports by Indian utilities fell by about 24% yoy to 44 million tonnes (mt) i ...
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- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Australian Coal Association
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
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