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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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Saturday, 05 September 09
INDIA BUYING INTO AUSTRALIA'S COAL - INTERVIEW
India is in line to buy vast amounts of Australian coal. An Indian cabinet minister is on a special mission to Australia to help satisfy India's ur ...
Saturday, 05 September 09
52 COMPANIES SUBMIT EOIS TO COAL INDIA
The Hindu, India's largest English news paper reported that, International mining majors from the U.S., South Africa, Australia and Indonesia are a ...
Friday, 04 September 09
INDONESIA PAITON ENERGY BUYS COAL FROM ADARO, KIDECO
PT Paiton Energy, an Indonesian independent power producer, has agreed to buy 3 million tonnes of coal from PT Adaro Energy Tbk (ADRO.JK) and PT Kid ...
Thursday, 03 September 09
ICVL IN TALKS FOR COAL BLOCKS IN INDONESIA
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13
LiveMint reported ...
Tuesday, 01 September 09
THREE COAL INVESTMENTS AND A SECTOR ON FIRE
With recession fears fading into the past in Asia and growth increasingly back on track in the West, global energy demand is again surging. It's no ...
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- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
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