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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, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
Monday, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
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- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- MS Steel International - UAE
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
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