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