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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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Thursday, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- MS Steel International - UAE
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- The University of Queensland
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