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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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Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
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- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Australian Coal Association
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- The University of Queensland
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
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