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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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Monday, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
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- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
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