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