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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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Tuesday, 20 September 22
CHINA COAL OUTPUT UP 8.1 PCT IN AUGUST - XINHUA
China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million tonnes of ra ...
Monday, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
...
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- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Parliament of New Zealand
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- PTC India Limited - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- White Energy Company Limited
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
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