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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, 07 July 09
Q+A - INDONESIA MINING SECTOR FACES ELECTION RISKS - REUTERS
Indonesia has struggled to lure foreign investment to its mining sector in recent years, and the nationalist line on resource exploitation taken by ...
Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough Interna ...
Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offsh ...
Tuesday, 07 July 09
RBCT COAL EXPORTS TO REMAIN BELOW CAPACITY IN 2009
Coal volumes railed to South Africa’s Richards Bay Coal Terminal are continuing to fall far short of the corridor’s nameplate yearly cap ...
Tuesday, 07 July 09
TATA POWER AID THE INDONESIAN COAL MINES
BL reported that Mr Prasad Menon MD of TATA Power aid the Indonesian coal mines PT Kaltim Prima Coal and PT Arutmin Indonesia in which TATA Power ha ...
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- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
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