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