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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, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved ...
Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
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- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
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