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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, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
Thursday, 19 November 09
THE GOVERNMENT TO GUARANTEE COAL SUPPLIES FOR POWER PLANTS
The government guarantees coal supplies for power plants under a 10,000 MW-capacity power plant construction acceleration program.
Minister of En ...
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- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Parliament of New Zealand
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Planning Commission, India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Baramulti Group, Indonesia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
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