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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, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Planning Commission, India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- The University of Queensland
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
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