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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, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
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- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- MS Steel International - UAE
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
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