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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, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bha ...
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- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
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