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