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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, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
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