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