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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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Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
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- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
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