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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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- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Planning Commission, India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
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