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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, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Australian Coal Association
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- The University of Queensland
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Planning Commission, India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
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