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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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Saturday, 31 October 09
FLSMIDTH WINS MAJOR INDIAN COAL HANDLING PROJECT
Top global supplier of minerals processing and materials handling equipment, FL smidth, has won another important coal handling contract in India
...
Saturday, 31 October 09
INDIA OPENING POWER SECTOR TO PRIVATE INVESTMENT, COAL STILL THE FUEL OF CHOICE
Energy Tribune reported that, With coal-fired power plants as the primary source, India’s electricity generation sector space has been dominat ...
Friday, 30 October 09
MINERS TOLD TO SPEND ON LOCAL SERVICE FIRMS
The energy and mineral resources ministry has issued a ministerial regulation ordering mining firms to prioritize hiring domestic service companies ...
Friday, 30 October 09
TATA POWER MAY BUY COAL FROM RIVERSDALE'S MOZAMBIQUE MINES
Bloomberg reported that, Tata Power Ltd., India’s biggest electricity generator outside state control, may buy coal from a mine in Mozambique ...
Thursday, 29 October 09
MMTC AWARDED 12.5 MILLION TONS TO THREE INDIAN TRADERS
COALspot.com (India): State-run trading firm MMTC awarded tenders for the import of 12.5 million tonnes of coal for NTPC to three Indian coal trader ...
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- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Planning Commission, India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- White Energy Company Limited
- London Commodity Brokers - England
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
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