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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, 07 September 09
VALE SPENT $300 MILLION AT MOZAMBIQUE COAL MINE
Bloomberg rported that, Vale SA, the world’s biggest iron- ore producer, has so far spent about $300 million of the $1.3 billion investment in ...
Monday, 07 September 09
INDIA MAY BOOST COAL IMPORTS FROM INDONESIA - PLAN JVS
WSJ reported taht, India agreed to study setting up joint ventures with Indonesian companies to acquire coal assets, and look at other means of impo ...
Monday, 07 September 09
INDIAN COAL MAY NOT POWER NEW UMPPS
The Economic Times reported that, bidders for new ultra mega power projects (UMPP) may not get assured coal supplies from domestic mines. As per the ...
Saturday, 05 September 09
THE ECI / CHINA (S7) ROUTE SOFTENED BY ALMOST 12% AND THE CHARTER HIRE WAS AT US$ 16,346 PER DAY - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI almost same as last week at 2,415 points.The Panamax index went up b ...
Saturday, 05 September 09
SHANXI AIMS TO MAINTAIN 2009 COAL OUTPUT AT LAST YEAR'S LEVEL
Interfax-China reported that, Shanxi Province, the country's second-largest coal producing region, is aiming to keep its annual coal output a ...
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- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- The University of Queensland
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
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