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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, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
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