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