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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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Monday, 24 August 09
10 LAKH (1 MILLION) TONNE COAL BURNT IN KPT
Times of India reported that, In an unusual phenomenon, 10 lakh tonne coal cache stored at a plot in Kandla Port Trust was reduced to ashes after it ...
Monday, 24 August 09
LANCO IN TALKS FOR INDONESIAN COAL MINE
Economic Times of India reported that, Infrastructure company Lanco Infratech is in advanced talks with Indonesian engineering, procurement and cons ...
Saturday, 22 August 09
'THE BDI IS LIKELY TO BE HOLDING AROUND 2,500 POINTS' - SHIPPING UPDATE
COALspot.com (Singapore): The dry bulk market continued to be soft and the BDI dropped by 10 percent this week and closed at 24,68 points this week. ...
Saturday, 22 August 09
INDIAN COAL BUYERS RE-EMERGE WITH FRESH TENDERS
Reuters world's largest international multimedia news agency reported that,Indian coal end-users have re-emerged after a few weeks with several fre ...
Friday, 21 August 09
HUANENG YIMIN TO HIKE COAL OUTPUT
China Daily, the largest English portal in China reported that, China's first large coal-electricity joint project, Huaneng Yimin Coal Electricity ...
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- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
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