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