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