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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, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
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- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Planning Commission, India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Australian Coal Association
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