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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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Tuesday, 07 July 09
Q+A - INDONESIA MINING SECTOR FACES ELECTION RISKS - REUTERS
Indonesia has struggled to lure foreign investment to its mining sector in recent years, and the nationalist line on resource exploitation taken by ...
Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough Interna ...
Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offsh ...
Tuesday, 07 July 09
RBCT COAL EXPORTS TO REMAIN BELOW CAPACITY IN 2009
Coal volumes railed to South Africa’s Richards Bay Coal Terminal are continuing to fall far short of the corridor’s nameplate yearly cap ...
Tuesday, 07 July 09
TATA POWER AID THE INDONESIAN COAL MINES
BL reported that Mr Prasad Menon MD of TATA Power aid the Indonesian coal mines PT Kaltim Prima Coal and PT Arutmin Indonesia in which TATA Power ha ...
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- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- PTC India Limited - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
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