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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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Thursday, 18 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
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Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
Wednesday, 17 February 10
LAND OVERLAPPING UNAVOIDABLE
Land overlapping issues in the mining industry is unavoidable due to the availability of mineral, coal, and oil resources which are often located be ...
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- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- The University of Queensland
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Planning Commission, India
- PTC India Limited - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
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