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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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Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Australian Coal Association
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
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