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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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- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Planning Commission, India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
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