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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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Wednesday, 02 September 20
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- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Australian Coal Association
- PTC India Limited - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
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