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