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