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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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- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- The University of Queensland
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