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