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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, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Latin American Coal - Colombia
- Economic Council, Georgia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
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