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