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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, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
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- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
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