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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
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