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