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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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Tuesday, 16 June 20
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Sunday, 14 June 20
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Friday, 12 June 20
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Friday, 12 June 20
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Friday, 12 June 20
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Low oil prices are likely to exert the highest pressure on Iraq, Oman and Kuwait due to the limited space for the fiscal policy pursuit and higher ...
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- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Planning Commission, India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
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