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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, 18 September 09
STANCHART TO ADVISE BAYAN ON INDONESIA COAL FINANCING
Indonesian coal miner PT Bayan Resources Tbk said on Wednesday it has appointed Standard Chartered Bank as a financial adviser for raising at least ...
Friday, 18 September 09
COKING COAL SUPPLY TO FALL 3 MILLION TONS IN CHINA ON SHUTDOWN
Bloomberg reported that, Coking coal supply in China, the largest consumer, may fall by 3 million metric tons a month after a mine accident this mon ...
Thursday, 17 September 09
FOUR LEFT IN INDIA'S MMTC COAL IMPORT TENDER-SOURCE
Reuters reported that, India's MMTC Ltd has accepted four out of five submissions for an import tender for 12.5 million tonnes of coal, with a bid ...
Thursday, 17 September 09
INDIA SEEKS COAL
IBT commodities reported that, India is on a coal buying spree. The big Asian nation is scrambling to cover an expected shortfall in domestic supply ...
Wednesday, 16 September 09
S. LANKA, INDIA'S NTPC TO SIGN $500 MLN COAL DEAL
Reuters reported that, Sri Lanka is to sign a commercial agreement with India's National Thermal Power Corporation (NTPC.BO) to build a $500 millio ...
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- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- VISA Power Limited - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
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