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