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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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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
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