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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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Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
Thursday, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
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- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
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