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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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Sunday, 21 June 09
CHINESE MINERS SEAL THERMAL COAL DEALS WITH JAPAN AND KOREA
As the confrontation between China's power and coal enterprises become more and more serious, coal enterprises which had supposedly been in the sho ...
Sunday, 21 June 09
MERCATOR TO BUY 3 BULK VESSELS
Mercator Lines, India’s second-largest private shipping company, is expanding its capacity and is set to acquire three gearless post-Panamax b ...
Sunday, 21 June 09
COAL SCARCITY HITS BIHAR POWER PLANTS
The Rs 60,000 crore 12,500mw power projects cleared by the State Investment Planning Board (SIPB) which could change the face of Bihar if commission ...
Sunday, 21 June 09
NLC CHALKS OUT RS 40K CR INVESTMENT
Public sector mini rathna, Neyveli Lignite Corporation is in rapid expansion mode and has chalked out Rs 40,000 crore investment both in
the mining ...
Sunday, 21 June 09
TRANSPORT PROBLEMS HOLD BACK RUSSIAN COAL EXPORTS
Limited rail capacity and poor port infrastructure are frustrating the ambitions of Russia's leading coal producers to increase exports quickly to ...
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- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
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