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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, 01 July 09
NEWCASTLE WEEKLY COAL EXPORTS RISE BY 12PCT
Bloomberg reported that Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, gained 12% last ...
Wednesday, 01 July 09
RS 6,000CR MMTC COAL IMPORT PLAN UNDER CLOUD
The plan of MMTC Ltd, a trading firm under the commerce ministry, to import coal worth Rs 6,000 crore has come under cloud, with the Central ...
Wednesday, 01 July 09
INDONESIAN FIRM BIDS FOR 130,000T COAL FOR NAPOCOR
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it received two bids from Indonesia's PT Trubaindo and its loc ...
Wednesday, 01 July 09
COAL PRICE INDEX TO BE LAUNCHED IN JULY
India will soon get a coal index to track the coal price movement in the country.
India's leading e-commerce company Mjunction Services Ltd will ...
Wednesday, 01 July 09
COAL INDIA SEEKS FASTER APPROVALS, IMPORTS, OVERSEAS MINERS
Coal India Ltd., the world’s biggest coal producer, wants mining approvals sped up to help it boost production to meet a widening supply short ...
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- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
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