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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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Saturday, 23 May 09
THE SPOT SUPRAMAX CONTINUED TO BE FIRM - VISTAAR SINGAPORE
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore, said, the beginning of the week continued ...
Saturday, 23 May 09
INDONESIA'S COAL OUTPUT SLUMPS IN Q1 ON LOWER PRICES, FALLING DEMAND - THE JAKARTA GLOBE
Falling international coal prices, bad weather and other problems cut first-quarter coal output by 50 percent to 30 million tons against an initial ...
Saturday, 23 May 09
INDIAN GOVT PLANS TO BUILD FIVE COAL-BASED POWER PLANTS AT $3.5B TO END CRISIS - THE FINANCIAL EXPRESS
The government has started working on a plan to set up five coal-based power plants with combined capacity of 2,500 mega watt to solve the country' ...
Saturday, 23 May 09
INTERNATIONAL COAL VENTURES PVT LTD FORMED - INDIA SERVER
National Thermal Power Corporation Limited (NTPC Ltd), the largest thermal power generating company of India, has entered into a joint venture with ...
Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
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- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
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