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