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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, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political
...
Monday, 10 August 09
SAIL, TATA STEEL TO REDUCE COAL IMPORTS BY PARADIP PORT
World Shipping News reported that, Steel Authority of India Ltd (SAIL) and Tata Steel have scaled down coal imports through Paradip Port, hit by pre ...
Monday, 10 August 09
NTPC LIKELY TO SET UP POWER PLANTS IN NIGERIA AND SRILANKA
Economic time reported that, National Thermal Power Corporation Limited (NTPC), country's largest power utility, is likely to set up power plants i ...
Monday, 10 August 09
VINACOMIN TO SELL COAL AT MARKET PRICES TO DOMESTIC USERS
VNBusinessNews.com - Reuters reported that Vietnamese government has agreed to let coal monopoly Vinacomin sell coal at market oriented prices to do ...
Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
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- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
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