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