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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, 12 November 12
THE ESTABLISHMENT OF NORTH KALIMANTAN AS A NEW PROVINCE WILL NOT AFFECT THE LOCAL MINING COMPANIES
The government of Indonesia has ensured that the establishment of North Kalimantan as a new province will not affect the local mining companies ...
Monday, 12 November 12
DRILLING COMPLETED AT THE MOORLANDS DEPOSIT, WEST BOWEN PROJECT
Press Release - Cuesta Coal Limited (ASX: CQC) (“Cuesta”) is pleased to announce it has completed its exploration activities at the Moor ...
Monday, 12 November 12
BARGE-LOAD OF 5K TONNES OF COAL FROM THE ADK JOINT VENTURE SHIPPED LAST WEEK
COALspot.com - Orpheus Energy (ASX:OEG) has announced that, it has successfully shipped a 5,000 tonne of ADK thermal coal to an Indonesian trading g ...
Sunday, 11 November 12
AN OPTIMISTIC WEEK FOR INDONESIAN SUB-BIT COAL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 2.08 percent WoW and 1.28 percent DoD on Friday, 9 November ...
Sunday, 11 November 12
THE IRON ORE AND COAL PRICES MOVEMENTS REMAINS LOW - VISTAAR
COALspot.com The market remained soft with all the sectors soft.
The BDI and was down by 4.67 pct closing at 940 points, on Friday 9 Novemb ...
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- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
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