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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, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
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