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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, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
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- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Parliament of New Zealand
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
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