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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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Friday, 03 April 20
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Tuesday, 31 March 20
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- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
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