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