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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, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
Thursday, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
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- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
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