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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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Monday, 12 September 22
COAL PRICE HIKE REMAINS DIFFICULT FOR CIL: CHAIRMAN TELLS ANALYSTS - PTI
Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with h ...
Friday, 09 September 22
GREECE WILL KEEP COAL-FIRED PLANTS RUNNING FOR LONGER AMID GAS CRISIS - REUTERS
Greece will keep seven coal-fired plants running for longer than previously planned as European countries adjust to a cut in gas flows coming from ...
Friday, 09 September 22
CHINA'S DROUGHT INTENSIFIES GLOBAL COAL SHORTAGE - REUTERS
China’s drought has sent coal prices surging as traders anticipate the lack of hydroelectric generation will force it to burn more coal to me ...
Thursday, 08 September 22
MOODY.S AFFIRMS ABM INVESTAMA'S B1 RATINGS FOLLOWING PLANNED MINORITY INVESTMENT IN COAL MINER; OUTLOOK STABLE
Moody's Investors Service has affirmed ABM Investama Tbk (P.T.)'s B1 corporate family rating (CFR), along with the B1 rating on its senior ...
Thursday, 08 September 22
MARKET INSIGHT - INTERMODAL
While the energy markets are historically stretched, Russian flows of crude oil are closely monitored as the oil trade is ultimately realigned. Mor ...
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- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- PTC India Limited - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
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