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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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Friday, 29 May 09
INDONESIA PLANS "CLEARING HOUSE" FOR COAL - ALIBABA
Alibaba reported that, Indonesia, the world's biggest thermal coal exporter, plans to set up an agency similar to a clearing house to trade stocks ...
Friday, 29 May 09
INDIKA EYES MORE ACQUISITIONS - THE JAKARTA POST
Having nearly completed the acquisition of engineering and mining company PT Petrosea, energy company PT Indika Energy is preparing for more acquisi ...
Friday, 29 May 09
PTBA PAYS DIVIDENDS OF RP 371.5 A SHARE - THE JAKARTA POST
The annual shareholders' meeting of state-controlled coal producer PT Tambang Batubara Bukit Asam (PTBA) approved on Thursday the allocation of 50 ...
Thursday, 28 May 09
INDIANS CHOOSE SOUTH AFRICA COAL OVER INDONESIAN - MINEWEB (REUTERS)
South African cargoes are about $4 a tonne cheaper than Indonesian coal, as a result India now prefers South Africa .
Indian imports of South Afr ...
Wednesday, 27 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE 3.6% - BLOOMBERG
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 3.6 percent last week while the num ...
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- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Deloitte Consulting - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
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