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