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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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Monday, 02 December 19
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- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Economic Council, Georgia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Bhatia International Limited - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
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