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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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- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- The University of Queensland
- Planning Commission, India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Australian Coal Association
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