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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 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Australian Coal Association
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Trasteel International SA, Italy
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
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