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