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