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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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- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
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