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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, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
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- Siam City Cement - Thailand
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Planning Commission, India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
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