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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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Wednesday, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
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- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Australian Coal Association
- PTC India Limited - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
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