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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, 06 March 09
CHURCHILL STARTS REVERSE DRILLING AT INDONESIAN COAL PROJECT
Miningweekly reported that, Aim-listed minerals explorer Churchill Mining on Thursday stated that reverse drilling at its East Kutai coal project (E ...
Thursday, 05 March 09
UAE FUND PLANS INDONESIA COAL RAIL LINK
News.alibaba reported that, A United Arab Emirates' fund signed a memorandum of understanding on Monday (2 March 2009) with an Indonesian prov ...
Thursday, 05 March 09
CHINA COAL-PRICES LITTLE CHANGED DESPITE PLUNGE ABROAD
China's spot coal prices were little changed from a week earlier, despite the sharp fall in the international market, and demand for coal remains s ...
Thursday, 05 March 09
RAK TO BUILD COAL FIRED POWER STATION
The National Ras al Khaimah, which is developing a coal mine in Indonesia, will build a coal-fired power plant in the emirate in the next two years ...
Wednesday, 04 March 09
COAL: GLOBAL DEMAND WEAKENS
The Jakarta Post reported that, While coal prices were stickier on the way down compared to other commodities like oil, the Newcastle price now sugg ...
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- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
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