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