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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, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
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- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Australian Coal Association
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
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