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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, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
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