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