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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, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
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- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
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