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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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Wednesday, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
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- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- The University of Queensland
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
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