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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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Friday, 19 June 09
COAL FORUM TO MEET IN BALI NEXT WEEK
Bali will host next week a Southeast Asian forum on coal, involving coal producers, consumers and government representatives.
The Indonesian Ener ...
Friday, 19 June 09
KARNATAKA POWER CORP BEGINS BLENDING INDONESIAN COAL
BL reported that the State Government owned power utility Karnataka Power Corporation Limited has begun blending imported Indonesian coal for its th ...
Thursday, 18 June 09
COAL MINING HALTS AFTER DEADLY BLAST - (UPDATE 2)
All mining activists in Sawahlunto, West Sumatra, are at a standstill after a major underground explosion killed at least 31 miners and buried 12 ot ...
Thursday, 18 June 09
INDIA'S HINDALCO CLOSE TO BUYING AUSTRALIA COAL MINE
India's largest aluminium maker Hindalco Industries is close to acquiring a coal mine in Australia, for about $70-$80 million, The Economic Times r ...
Thursday, 18 June 09
GERMAN COAL BUYERS SEE LOWER IMPORTS, PRICES
* Coal imports and prices fall as steel industry slumps
* Coal industry grapples with carbon polluter image
German imports of hard coal are like ...
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- The University of Queensland
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
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