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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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- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
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