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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, 08 May 09
INDONESIAN STATE AUDIT BOARD COULD ONLY REACHED A SMALL NUMBER OF KP AND PKP2B - MAJALAHTAMBANG
THE LACK of personnel and the very limited time period have been the reasons why the 2nd semester of the special purpose audit for coal mining ...
Friday, 08 May 09
B.C.'S MINING INDUSTRY HIGH COAL PRICES TO RECORD 2008 PROFITS - PAGUNTAKA
AGGREGATE pre-tax earnings rose to $3.2 billion, the highest amount in the 41-year history of a PricewaterhouseCoppers survey.
B.C.’s minin ...
Thursday, 07 May 09
ASIA COAL-PRICES EASE TO NEAR $63 ON DEMAND CONCERNS - REUTERS
AUSTRALIAN thermal coal prices, a benchmark for Asia, edged lower to around $63 a tonne on concerns over demand, after hitting a two-week high of $6 ...
Thursday, 07 May 09
RICHARDS BAY COAL SHIPMENTS FALL MOST IN 9 MONTHS - BLOOMBERG
RICHARDS BAY Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments fell 24 percent last month, the biggest drop in nine mo ...
Tuesday, 05 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE - BLOOMBERG
COAL shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 18 percent last week while the numb ...
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- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Australian Coal Association
- Deloitte Consulting - India
- PTC India Limited - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Aditya Birla Group - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
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