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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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Monday, 27 April 09
JSW ENERGY SET TO SNAP UP AFRICAN COAL MINE FOR $70 MN - ECONOMIC TIMES
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million ...
Monday, 27 April 09
INDONESIA MINING RULES MAY DETER INVESTORS-OFFICIALS - REUTERS
Indonesia's rules on foreign divestment of mining projects must be revised to address issues such as finding buyers if Southeast Asia's biggest ec ...
Monday, 27 April 09
UNDERGROUND MINING IN FOREST AREAS NOT SO SIMPLE - THE JAKARTA POST
The government's plan to issue a presidential decree allowing mining companies to mine underground in protected forest concession areas has resulte ...
Monday, 27 April 09
COAL PRICES ABOVE FUNDAMENTALS - STUFF.CO.NZ
Coal prices have defied the gravity of fundamental factors, supported by stockpiling prompted by cheaper prompt prices rather than a reflextion of a ...
Sunday, 26 April 09
MITRA HOPES TO SECURE DEALS WITH TWO COAL FIRMS BY JUNE - THE JAKARTA POST
An integrated oil and gas services company, publicly listed PT Mitra Rajasa, is expecting to seal acquisition deals with two coal companies in June, ...
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- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
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