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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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Friday, 06 March 09
CHURCHILL STARTS REVERSE DRILLING AT INDONESIAN COAL PROJECT
Miningweekly reported that, Aim-listed minerals explorer Churchill Mining on Thursday stated that reverse drilling at its East Kutai coal project (E ...
Thursday, 05 March 09
UAE FUND PLANS INDONESIA COAL RAIL LINK
News.alibaba reported that, A United Arab Emirates' fund signed a memorandum of understanding on Monday (2 March 2009) with an Indonesian prov ...
Thursday, 05 March 09
CHINA COAL-PRICES LITTLE CHANGED DESPITE PLUNGE ABROAD
China's spot coal prices were little changed from a week earlier, despite the sharp fall in the international market, and demand for coal remains s ...
Thursday, 05 March 09
RAK TO BUILD COAL FIRED POWER STATION
The National Ras al Khaimah, which is developing a coal mine in Indonesia, will build a coal-fired power plant in the emirate in the next two years ...
Wednesday, 04 March 09
COAL: GLOBAL DEMAND WEAKENS
The Jakarta Post reported that, While coal prices were stickier on the way down compared to other commodities like oil, the Newcastle price now sugg ...
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- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- ASAPP Information Group - India
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