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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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Tuesday, 05 May 09
INDONESIA'S ADARO PAYS $78.6 MLN FOR COAL-BARGING FIRM - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, said late on Monday it paid $78.6 million for a 74 percent stake in Orchard ...
Tuesday, 05 May 09
PHILIPPINES SEMIRARA STILL EXPECTS HIKE IN COAL SALES - BUSINESS MIRROR
DESPITE the anticipated soft demand resulting from the prevailing global financial crisis, the country’s largest coal producer Semirara Mining ...
Monday, 04 May 09
VISTAAR SINGAPORE SAYS, THIS MONTH DRY BULK FREIGHT LIKELY TO COME DOWN
COALspot.com (Singapore) - VISTAAR shipping Services Pte Limited of Singapore, said, the beginning of last week started with bit of weakness an ...
Monday, 04 May 09
PNOC-EC TO GROW COAL OPERATIONS - PHILIPPINE DAILY INQUIRER
LISTED firm Philippine National Oil Co.-Exploration Corp. plans to expand its operations this year to ensure the steady supply of coal and fur ...
Saturday, 02 May 09
BUMI'S FIRST-QUARTER PROFIT RISES 21% ON COAL PRICE - BLOOMBERG
PT BUMI RESOURCES, Asia’s biggest exporter of power-station coal, said first-quarter profit rose 21 percent after it earned higher prices for ...
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- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
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