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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, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bha ...
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- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
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