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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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Tuesday, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
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- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
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