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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, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
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- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
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