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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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Wednesday, 19 August 09
MMTC SCRAPS CONTROVERSIAL COAL TENDER
Most of NTPC’s coal-based projects don’t have sufficient stock of coal
State-owned trading firm MMTC Ltd has scrapped its controversi ...
Wednesday, 19 August 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 WILL BE HELD IN CHINA IN SEPTEMBER 2009
COALspot.com (China): Due to the inversion of domestic and overseas coal price in China, China coal import increased dramatically and continuously. ...
Wednesday, 19 August 09
COAL INDIA PLANS SUBSIDIARY IN MOZAMBIQUE
Business Standard reported that, Coal India Ltd (CIL), which was awarded two exploratory coal blocks in Mozambique in March this year, has decided t ...
Tuesday, 18 August 09
INDIA PLANS 'SIMPLER' MINING LAW TO BOOST INVESTMENT
Bloomberg reported that, India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help ...
Tuesday, 18 August 09
BANPU TO FOCUS ON CORE BUSINESS
Banpu, the country's leading energy firm, expects to conclude its four-year strategic plan next month, resulting in a strengthening of its core bus ...
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- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Parliament of New Zealand
- PTC India Limited - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- GMR Energy Limited - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Sojitz Corporation - Japan
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
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