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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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Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
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- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Planning Commission, India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
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