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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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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- Agrawal Coal Company - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Planning Commission, India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Australian Coal Association
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
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