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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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Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
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- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Interocean Group of Companies - India
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