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