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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, 05 September 09
INDIA BUYING INTO AUSTRALIA'S COAL - INTERVIEW
India is in line to buy vast amounts of Australian coal. An Indian cabinet minister is on a special mission to Australia to help satisfy India's ur ...
Saturday, 05 September 09
52 COMPANIES SUBMIT EOIS TO COAL INDIA
The Hindu, India's largest English news paper reported that, International mining majors from the U.S., South Africa, Australia and Indonesia are a ...
Friday, 04 September 09
INDONESIA PAITON ENERGY BUYS COAL FROM ADARO, KIDECO
PT Paiton Energy, an Indonesian independent power producer, has agreed to buy 3 million tonnes of coal from PT Adaro Energy Tbk (ADRO.JK) and PT Kid ...
Thursday, 03 September 09
ICVL IN TALKS FOR COAL BLOCKS IN INDONESIA
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13
LiveMint reported ...
Tuesday, 01 September 09
THREE COAL INVESTMENTS AND A SECTOR ON FIRE
With recession fears fading into the past in Asia and growth increasingly back on track in the West, global energy demand is again surging. It's no ...
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- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- The University of Queensland
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
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