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