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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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Monday, 27 April 09
JSW ENERGY SET TO SNAP UP AFRICAN COAL MINE FOR $70 MN - ECONOMIC TIMES
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million ...
Monday, 27 April 09
INDONESIA MINING RULES MAY DETER INVESTORS-OFFICIALS - REUTERS
Indonesia's rules on foreign divestment of mining projects must be revised to address issues such as finding buyers if Southeast Asia's biggest ec ...
Monday, 27 April 09
UNDERGROUND MINING IN FOREST AREAS NOT SO SIMPLE - THE JAKARTA POST
The government's plan to issue a presidential decree allowing mining companies to mine underground in protected forest concession areas has resulte ...
Monday, 27 April 09
COAL PRICES ABOVE FUNDAMENTALS - STUFF.CO.NZ
Coal prices have defied the gravity of fundamental factors, supported by stockpiling prompted by cheaper prompt prices rather than a reflextion of a ...
Sunday, 26 April 09
MITRA HOPES TO SECURE DEALS WITH TWO COAL FIRMS BY JUNE - THE JAKARTA POST
An integrated oil and gas services company, publicly listed PT Mitra Rajasa, is expecting to seal acquisition deals with two coal companies in June, ...
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- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- VISA Power Limited - India
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