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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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Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
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- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
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