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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, 21 April 09
INDONESIAN GOVT TO ALLOW UNDERGROUND MINING IN PROTECTED FORESTS - THE JAKARTA POST
The government will issue a regulation allowing mining companies to carry out underground mining in protected forests.
"This regulation will ...
Tuesday, 21 April 09
INDONESIAN GOVT LIKELY TO MISS INVESTMENT TARGETS FOR ENERGY, MINING - THE JAKARTA POST
The total value of investments in energy and mining sectors by the end of the year is likely to be below the government’s target, as a result of ...
Monday, 20 April 09
INDONESIAN COAL MINING ASSOCIATION CALLED TO CONTROL MINERS - MAJALA TAMBANG
The Indonesian Coal Mining Association (ICMA) is called to expand its membership further in view of controlling the conduct of miners in the nationa ...
Monday, 20 April 09
BANPU PLANS TO SHIP 2 MLN T COAL TO CHINA IN 09 - REUTERS
Banpu, Thailand's largest coal miner, plans to increase coal shipments to China by about 30 percent to 2 million tonnes in 2009, company officials ...
Monday, 20 April 09
INDO TAMBANGRAYA 2009 OUTPUT TO GO UP 16% - THE JAKARTA POST
Indonesia's third largest coal producer, publicly listed PT Indo Tambangraya Megah (ITM), is targeting to raise production by 16 percent this year ...
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- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
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