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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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Sunday, 21 June 09
CHINESE MINERS SEAL THERMAL COAL DEALS WITH JAPAN AND KOREA
As the confrontation between China's power and coal enterprises become more and more serious, coal enterprises which had supposedly been in the sho ...
Sunday, 21 June 09
MERCATOR TO BUY 3 BULK VESSELS
Mercator Lines, India’s second-largest private shipping company, is expanding its capacity and is set to acquire three gearless post-Panamax b ...
Sunday, 21 June 09
COAL SCARCITY HITS BIHAR POWER PLANTS
The Rs 60,000 crore 12,500mw power projects cleared by the State Investment Planning Board (SIPB) which could change the face of Bihar if commission ...
Sunday, 21 June 09
NLC CHALKS OUT RS 40K CR INVESTMENT
Public sector mini rathna, Neyveli Lignite Corporation is in rapid expansion mode and has chalked out Rs 40,000 crore investment both in
the mining ...
Sunday, 21 June 09
TRANSPORT PROBLEMS HOLD BACK RUSSIAN COAL EXPORTS
Limited rail capacity and poor port infrastructure are frustrating the ambitions of Russia's leading coal producers to increase exports quickly to ...
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- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
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