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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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Tuesday, 16 June 20
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Friday, 12 June 20
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- PTC India Limited - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Minerals Council of Australia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
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