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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, 04 December 09
JSW ENERGY TO BUY OUT PARENT FIRM'S COAL BLOCK
JSW Energy plans to buy the stake held by JSW Steel in a thermal coal block in Mozambique in an attempt to become an integrated energy company with ...
Thursday, 03 December 09
JAPAN 2010 COAL IMPORTS SEEN FLAT, INDIA'S ROBUST - INDUSTRY
* Japan's demand seen steady in 2010 at 110 mln tonnes
* India's demand seen as robust, at 70 mln tonnes
Reuters reported that, Thermal coal i ...
Thursday, 03 December 09
INDONESIA MAY ALLOW COAL SALES BELOW GOVT PRICE
Reuters reported that, Indonesia is considering giving producers some flexibility to sell coal below the government's monthly benchmark price to co ...
Thursday, 03 December 09
INDONESIA SEEKS TO INCREASE COAL SHIPMENTS TO INDIA, CHINA
Bloomberg reproted that, Indonesia, Asia’s biggest coal exporter, seeks to increase shipments to India and China as the economies improve and ...
Thursday, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010
Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November ...
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- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Planning Commission, India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- The University of Queensland
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
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