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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, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- Parliament of New Zealand
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
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