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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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Monday, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political
...
Monday, 10 August 09
SAIL, TATA STEEL TO REDUCE COAL IMPORTS BY PARADIP PORT
World Shipping News reported that, Steel Authority of India Ltd (SAIL) and Tata Steel have scaled down coal imports through Paradip Port, hit by pre ...
Monday, 10 August 09
NTPC LIKELY TO SET UP POWER PLANTS IN NIGERIA AND SRILANKA
Economic time reported that, National Thermal Power Corporation Limited (NTPC), country's largest power utility, is likely to set up power plants i ...
Monday, 10 August 09
VINACOMIN TO SELL COAL AT MARKET PRICES TO DOMESTIC USERS
VNBusinessNews.com - Reuters reported that Vietnamese government has agreed to let coal monopoly Vinacomin sell coal at market oriented prices to do ...
Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
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- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
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