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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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Friday, 29 May 09
INDONESIA PLANS "CLEARING HOUSE" FOR COAL - ALIBABA
Alibaba reported that, Indonesia, the world's biggest thermal coal exporter, plans to set up an agency similar to a clearing house to trade stocks ...
Friday, 29 May 09
INDIKA EYES MORE ACQUISITIONS - THE JAKARTA POST
Having nearly completed the acquisition of engineering and mining company PT Petrosea, energy company PT Indika Energy is preparing for more acquisi ...
Friday, 29 May 09
PTBA PAYS DIVIDENDS OF RP 371.5 A SHARE - THE JAKARTA POST
The annual shareholders' meeting of state-controlled coal producer PT Tambang Batubara Bukit Asam (PTBA) approved on Thursday the allocation of 50 ...
Thursday, 28 May 09
INDIANS CHOOSE SOUTH AFRICA COAL OVER INDONESIAN - MINEWEB (REUTERS)
South African cargoes are about $4 a tonne cheaper than Indonesian coal, as a result India now prefers South Africa .
Indian imports of South Afr ...
Wednesday, 27 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE 3.6% - BLOOMBERG
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 3.6 percent last week while the num ...
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- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
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