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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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Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
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- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
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