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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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Tuesday, 25 August 09
INDIAN FIRM TO INVEST $44 MN IN INDONESIA
Economic Times - India Times reported that, BEML Limited, India-based second largest heavy equipment producer in Asia, will invest $44 million in In ...
Tuesday, 25 August 09
BHARAT LOOKS TO BULLDOZE RIVALS WITH LOWER PRICES
The Jakarta Globe reported that, The country’s two established heavy equipment suppliers now have a competitor in the form of Indian firm Bhar ...
Tuesday, 25 August 09
PIKE RIVER DELAYS COAL EXPORTS FROM NEW ZEALAND MINE
South African mining Weekly reported that, The first 60,000-t export shipment from ASX-listed Pike River Coal’s new mine has been delayed unti ...
Monday, 24 August 09
INDONESIAN GOVT ASKED TO CONTROL COAL TRADERS, BROKERS
The Jakarta Post, the leading English news paper in Indoneisa reported that, Businesses are urging the government to bring all coal traders and brok ...
Monday, 24 August 09
10,000 MW TO BE GENERATED THROUGH THAR COAL RESERVES BY 2020
Four projects of 2450 MW approved; govt to invest Rs80bn in five years on infrastructure
The News Pakistan reported that, The Thar Coal a ...
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- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Australian Coal Association
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Planning Commission, India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
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