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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, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
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