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