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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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Friday, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said ...
Thursday, 18 March 10
COAL IMPORTS SOAR IN NANTONG PORT OF JIANGSU PROVINCE CHINA
BloombergUTV reported that, Coal imports at Nantong Port, located in coastal China's Jiangsu Province, soared 13 times to 581,000 tonnes in the fir ...
Thursday, 18 March 10
INNER MONGOLIA TO CAP COAL OUTPUT AT 700 MLN TONS IN 2010
Alibaba / China Knowledge reported that, Inner Mongolia, China's northern border autonomous region, plans to control coal output at 700 million ton ...
Thursday, 18 March 10
THE INDIAN MARKET WAS QUIET, BUT BECAUSE OF THE TIGHT TONNAGE SITUATION STILL FIRM - FEARNLEYS AS
Handy
Activity continues to be solid in the Atlantic.
Supramax physical market is strong which pushed the BSI to a 17 month high at ...
Thursday, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
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- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Planning Commission, India
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