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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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Monday, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
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- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
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