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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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Thursday, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Australian Coal Association
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
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