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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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Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
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