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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, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
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- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
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