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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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Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
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- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- PTC India Limited - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
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