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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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Monday, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
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Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
Saturday, 07 May 11
BERAU INKS DEALS WITH CHINESE FIRMS AS COAL WEATHERS COMMODITIES STORM - THE JAKARTA GLOBE
The Jakarta Globe reported that, Berau Coal, one of the country’s largest coal miners, has signed sales contracts with two Chinese companies a ...
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- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
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