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