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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, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
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- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- The University of Queensland
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
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