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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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Saturday, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC
Coal imports by state-run Coal India Ltd are likely to soar to 6-10 million tonnes in fiscal 2010/11 from an expected 1.5-1.7 million tonnes in the ...
Saturday, 13 February 10
RULES MAY FREE $10B OF MINING PROJECTS IN INDONESIA
The government announced on Friday that it had issued two implementing regulations for the new Mining Law that will clear the way for the developmen ...
Saturday, 13 February 10
INDONESIA OFFERS TAX INCENTIVES FOR RENEWABLE ENERGY
Indonesia is offering tax incentives to develop renewable energy projects, including geothermal energy, to cut dependency on fossil fuels, a decree ...
Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T
Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to ...
Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
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- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
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