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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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Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
Wednesday, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
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- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
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