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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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Saturday, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved ...
Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
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- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
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