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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, 27 February 09
WIKA TO ACQUIRE MINING COMPANY
The Jakarta Post reported that, Public listed state construction firm PT Wijaya Karya (Wika) is to acquire a mining contracting firm in the first se ...
Friday, 27 February 09
COASTAL ENERGEN INKS PACT WITH CHINESE FIRM FOR POWER EQUIPMENT
My Digital Fc reported that, Dubai-based Coal and Oil Group, which is setting up a 1,200MW thermal power plant in Tamil Nadu, has tied-up with China ...
Thursday, 26 February 09
GMR INFRA COMPLETES INDONESIAN BUY
Blonnet reported that, GMR Infrastructure Ltd today confirmed the acquisition of an Indonesian coal mining company for a consideration of $80 millio ...
Wednesday, 25 February 09
INDONESIAN GOVERNMENT TO REGULATE MINIMUM COAL SELLING PRICES
The Jakarta Post reported that, To complement the recent enactment of the new mining law, the government is preparing to introduce a coal pricing in ...
Thursday, 19 February 09
GEOTHERMAL ENERGY DOMINATES 10.000 MW POWER PROJECT - ESDM
The role of coal as a source of energy is superseded by geothermal energy to power the second phase of the 10.000 megawatt (MW) power plant project. ...
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- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
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