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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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Wednesday, 02 September 20
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- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
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