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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, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
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- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- MS Steel International - UAE
- Australian Coal Association
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- ASAPP Information Group - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
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