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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, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said ...
Thursday, 18 March 10
COAL IMPORTS SOAR IN NANTONG PORT OF JIANGSU PROVINCE CHINA
BloombergUTV reported that, Coal imports at Nantong Port, located in coastal China's Jiangsu Province, soared 13 times to 581,000 tonnes in the fir ...
Thursday, 18 March 10
INNER MONGOLIA TO CAP COAL OUTPUT AT 700 MLN TONS IN 2010
Alibaba / China Knowledge reported that, Inner Mongolia, China's northern border autonomous region, plans to control coal output at 700 million ton ...
Thursday, 18 March 10
THE INDIAN MARKET WAS QUIET, BUT BECAUSE OF THE TIGHT TONNAGE SITUATION STILL FIRM - FEARNLEYS AS
Handy
Activity continues to be solid in the Atlantic.
Supramax physical market is strong which pushed the BSI to a 17 month high at ...
Thursday, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
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- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
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