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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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Saturday, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC
Coal imports by state-run Coal India Ltd are likely to soar to 6-10 million tonnes in fiscal 2010/11 from an expected 1.5-1.7 million tonnes in the ...
Saturday, 13 February 10
RULES MAY FREE $10B OF MINING PROJECTS IN INDONESIA
The government announced on Friday that it had issued two implementing regulations for the new Mining Law that will clear the way for the developmen ...
Saturday, 13 February 10
INDONESIA OFFERS TAX INCENTIVES FOR RENEWABLE ENERGY
Indonesia is offering tax incentives to develop renewable energy projects, including geothermal energy, to cut dependency on fossil fuels, a decree ...
Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T
Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to ...
Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
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- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- The University of Queensland
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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