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