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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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Saturday, 25 July 09
HUANENG EYES MAJORITY STAKE IN PT BERAU COAL
CCTV reported that, China's largest publicly traded power company has submitted a bid for controlling stake in Indonesia's fifth largest coal mine ...
Saturday, 25 July 09
ADANI POWER TO IMPORT COAL FOR MUNDRA PLANT
BL reported that more than 50% of the coal requirement for Adani Power’s 4,620 MW Mundra plant will have to be imported from Indonesia though ...
Friday, 24 July 09
INDONESIAN COAL NEWS - UPDATE
Income from tax slow
Since the economic crisis in October 2008 until now, tax from the general mining sector is slow. According to the Director Gene ...
Friday, 24 July 09
S.AFRICA JAN-JUNE EXPORTS TO ASIA AROUND 1.4 MLN T
* China takes 140-150,000 tonnes
* S.Korea imports zero
* Hong Kong utilites buy S.African coal
South African coal exports to Asia excluding India a ...
Friday, 24 July 09
BIG ADARO SHAREHOLDERS CREATE HOLDING COMPANY
The nation’s second-largest coal producer, PT Adaro Energy, said on Thursday that five key shareholders had merged their holdings in the compan ...
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- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Planning Commission, India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
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