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