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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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Wednesday, 10 August 16
THE INDONESIAN DRAFT NEW MINING LAW - AMENDMENTS TO THE 2009 MINING LAW
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Tuesday, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
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- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
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