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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, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
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- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
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