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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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Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Planning Commission, India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Parliament of New Zealand
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
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