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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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Thursday, 23 July 09
COAL IMPORTS SURGE; EXPORTS DOWN IN H1
China Trade Information reported that, China’s coal imports surged by 126.3 percent year-on-year in the first half of 2009, reaching 48.3 mill ...
Thursday, 23 July 09
SRI LANKA CALLS FOR COAL SUPPLY BIDS
Daily Mirro reported that, In a move to install the country’s first coal power plant, Sri Lanka has invited bids to supply 2.4 million metric ...
Thursday, 23 July 09
POWER INVESTORS TURN BACKS ON VIETNAMESE COAL IMPORTERS
VietNamNet Bridge reported that, Investors of power plants always seek foreign coal sources to import themselves, believing they can come by it chea ...
Wednesday, 22 July 09
BERAU COAL DRAWS LOCAL, CHINESE BIDS - SOURCES
* Indonesian coal firm draws local, Chinese bids-sources
* Deal could value Berau at more than $1 billion-sources
Reuters reported that, China' ...
Wednesday, 22 July 09
ONE TENDERS FOR 114,000 MT FOR NOV-JAN
Moroccan state-owned power utility Office National de l’Electricité (ONE) has launched a tender for three handymax shipments of coal fo ...
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- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
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