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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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Wednesday, 19 August 09
MMTC SCRAPS CONTROVERSIAL COAL TENDER
Most of NTPC’s coal-based projects don’t have sufficient stock of coal
State-owned trading firm MMTC Ltd has scrapped its controversi ...
Wednesday, 19 August 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 WILL BE HELD IN CHINA IN SEPTEMBER 2009
COALspot.com (China): Due to the inversion of domestic and overseas coal price in China, China coal import increased dramatically and continuously. ...
Wednesday, 19 August 09
COAL INDIA PLANS SUBSIDIARY IN MOZAMBIQUE
Business Standard reported that, Coal India Ltd (CIL), which was awarded two exploratory coal blocks in Mozambique in March this year, has decided t ...
Tuesday, 18 August 09
INDIA PLANS 'SIMPLER' MINING LAW TO BOOST INVESTMENT
Bloomberg reported that, India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help ...
Tuesday, 18 August 09
BANPU TO FOCUS ON CORE BUSINESS
Banpu, the country's leading energy firm, expects to conclude its four-year strategic plan next month, resulting in a strengthening of its core bus ...
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- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- PTC India Limited - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
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