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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, 17 August 09
COAL EXPORTS CONTINUE DESPITE SHORTAGE
Vietnam News reported that, Viet Nam is exporting more coal despite a warning from experts that the country could face a shortage of this fossil fue ...
Monday, 17 August 09
S.KOREA JULY COAL IMPORTS UP TO 8.97 MLN T
* Imports of heating coal in July up 3.7 percent on year
* LNG imports in July fall for seventh straight month
Alibaba reorted that, South Kore ...
Monday, 17 August 09
COAL INDIA PLANS A PRICE HIKE OF 11%
With the state-run CIL mining 84% of the coal produced in the country, an 11% increase will push up inflation by around 0.16%, the company said
L ...
Monday, 17 August 09
BANPU SEES INDONESIAN MINE OUTPUT UP 10 PCT IN 2010
Reuters reported that, Thailand's top coal miner, Banpu, said on Monday it expected coal output from its Indonesian mines to rise 10 percent to abo ...
Monday, 17 August 09
COAL IMPORTS SURGE IN H1
China is one of the world's leading coal producers. But even so, imports of coal have surged in the first half of the year, hitting a record in Jun ...
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- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
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