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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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Sunday, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
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- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- The University of Queensland
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
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