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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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Saturday, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
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- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
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