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