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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, 06 August 09
CASES FILED AGAINST ESSAR ALGOMA OVER TERMINATED COAL SHIPMENTS
Steel Guru reported that, It is reported that units of International Coal Group Inc and Arch Coal Inc have filed federal lawsuits in the same court ...
Thursday, 06 August 09
COMPULSORY MINE RECLAMATION PROPOSED FOR A MINING'S LIFETIME
Tambang reported that, A data from the Forestry Ministry showed that almost 65 percent of mining activities operated under contract of work, c ...
Thursday, 06 August 09
MINING PERMITS FOR THOSE COMMITTED TO SMELTER DEVELOPMENT ONLY
Tambang reported tht, Concrete and tangible endeavors are key to guarantee the attainment of added value from mining sector. The Indonesian Ministry ...
Thursday, 06 August 09
PRESS RELEASE - CZECH COAL CONTESTS THE J&T AND IPO MERGER
Prague, 3 August 2009 - The Czech Coal Group filed today objections to the proposed merger of the J&T Group and International Power Opatovice (I ...
Wednesday, 05 August 09
SMALLER DRY BULK CARRIERS TO FARE BETTER UNTIL THE END OF 2009 - SHIPPING
Marcor Shipping reported that, Smaller ship types are expected to outtake larger ones in dry bulk trade for the period until the end of the year. Th ...
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- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
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