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