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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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- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
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