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