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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, 08 May 09
INDONESIAN STATE AUDIT BOARD COULD ONLY REACHED A SMALL NUMBER OF KP AND PKP2B - MAJALAHTAMBANG
THE LACK of personnel and the very limited time period have been the reasons why the 2nd semester of the special purpose audit for coal mining ...
Friday, 08 May 09
B.C.'S MINING INDUSTRY HIGH COAL PRICES TO RECORD 2008 PROFITS - PAGUNTAKA
AGGREGATE pre-tax earnings rose to $3.2 billion, the highest amount in the 41-year history of a PricewaterhouseCoppers survey.
B.C.’s minin ...
Thursday, 07 May 09
ASIA COAL-PRICES EASE TO NEAR $63 ON DEMAND CONCERNS - REUTERS
AUSTRALIAN thermal coal prices, a benchmark for Asia, edged lower to around $63 a tonne on concerns over demand, after hitting a two-week high of $6 ...
Thursday, 07 May 09
RICHARDS BAY COAL SHIPMENTS FALL MOST IN 9 MONTHS - BLOOMBERG
RICHARDS BAY Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments fell 24 percent last month, the biggest drop in nine mo ...
Tuesday, 05 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE - BLOOMBERG
COAL shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 18 percent last week while the numb ...
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- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Parliament of New Zealand
- Bhatia International Limited - India
- Central Electricity Authority - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
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