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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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Thursday, 18 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
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Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
Wednesday, 17 February 10
LAND OVERLAPPING UNAVOIDABLE
Land overlapping issues in the mining industry is unavoidable due to the availability of mineral, coal, and oil resources which are often located be ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- The University of Queensland
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
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