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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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Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- Agrawal Coal Company - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- VISA Power Limited - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Australian Coal Association
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
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