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