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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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- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Australian Coal Association
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Videocon Industries ltd - India
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