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