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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, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
Tuesday, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
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- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
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