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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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Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Australian Coal Association
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Planning Commission, India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
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