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