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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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Friday, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
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- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Planning Commission, India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- The University of Queensland
- Coastal Gujarat Power Limited - India
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