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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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Saturday, 23 May 09
THE SPOT SUPRAMAX CONTINUED TO BE FIRM - VISTAAR SINGAPORE
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore, said, the beginning of the week continued ...
Saturday, 23 May 09
INDONESIA'S COAL OUTPUT SLUMPS IN Q1 ON LOWER PRICES, FALLING DEMAND - THE JAKARTA GLOBE
Falling international coal prices, bad weather and other problems cut first-quarter coal output by 50 percent to 30 million tons against an initial ...
Saturday, 23 May 09
INDIAN GOVT PLANS TO BUILD FIVE COAL-BASED POWER PLANTS AT $3.5B TO END CRISIS - THE FINANCIAL EXPRESS
The government has started working on a plan to set up five coal-based power plants with combined capacity of 2,500 mega watt to solve the country' ...
Saturday, 23 May 09
INTERNATIONAL COAL VENTURES PVT LTD FORMED - INDIA SERVER
National Thermal Power Corporation Limited (NTPC Ltd), the largest thermal power generating company of India, has entered into a joint venture with ...
Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
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- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Planning Commission, India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- PTC India Limited - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Bhatia International Limited - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
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