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