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