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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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- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- The University of Queensland
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Economic Council, Georgia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Central Java Power - Indonesia
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