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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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Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
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- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
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