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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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Wednesday, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
Wednesday, 30 June 21
MARKET INSIGHT - INTERMODAL
The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
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- The University of Queensland
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
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