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