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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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Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
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