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