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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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Monday, 05 October 09
SOUTH AFRICAN COAL RISES ON INDIAN BUYING, DOMESTIC DEMAND
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Monday, 05 October 09
BANPU EYES INCREASE IN COAL OUTPUT
The Nation reported that, Banpu plans to boost its coal output to 23 million tonnes next year once production begins at the East Block of its Indomi ...
Monday, 05 October 09
COAL TRADING C&O TO INVEST $100 M NEXT YEAR
The Jakarta Post reported that, Coal and Oil (C&0) Group of India plans to invest up to US$100 million in Indonesia next year to acquire coal mi ...
Sunday, 04 October 09
INDONESIAN COAL EXCHANGE FOR PRICE BENCHMARKING IN OFFING
Reuters cited Mr Bob Kamandanu chairman of the Indonesian Coal Producers Association as saying that Indonesia plans to set up a coal exchange to cre ...
Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Gr ...
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- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
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