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