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