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