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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, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
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- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
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