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