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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, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- London Commodity Brokers - England
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
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