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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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Thursday, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Minerals Council of Australia
- PTC India Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- The University of Queensland
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
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