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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, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
Monday, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
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- Australian Coal Association
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
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