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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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Friday, 24 July 09
INDIA TAKES 9 MILLION TONNES S. AFRICAN COAL JAN - JUNE
Reuters reported that, India accounted for nearly 9 million tonnes of South Africa's January-June exports of around 28 million tonnes, industry sour ...
Thursday, 23 July 09
KOMIPO LAUNCHES TWO COAL TENDERS
Korea Midland Power on Wednesday launched two tenders to procure bituminous or semi-anthracite coal for August to September delivery. Bids close on J ...
Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA
Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inke ...
Thursday, 23 July 09
KEPCO BUYS 1.5% STAKE IN ADARO ENERGY FOR US$ 56.5M
WSJ reported that, state-run utility Korea Electric Power Corp., or Kepco, Thursday said it has acquired a 1.5% stake in Indonesian coal miner, PT A ...
Thursday, 23 July 09
INDONESIA COAL-PRICES CLIMB TO $80, INDIAN DEMAND SLOWS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, jumped to nearly $80 a tonne this week, while Indonesi ...
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- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
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